IOTA, XRP, ZCash

IOTA (MIOTA)

Like the rest of the market, IOTA (MIOTA) has been largely bullish today. It has broken above the 200-day moving average resistance level at $0.567 to hit a high of $0.60. However, in the last 2 hours, it has retraced back to around $0.582, a level that is still way above the 200-day moving average, which is now acting as support. If in the next 4 to 6 hours $0.58 holds, it would be best to go long on IOTA (MIOTA). That’s because it would be a signal that bulls are still strong in the market.IOTA

A long-entry at this point offers good profit potential with a target of $0.72. That’s the next key resistance level that IOTA (MIOTA) could hit in the day charts. However, if IOTA (MIOTA) breaks below the 200-day moving average at $0.567, and the 100-day moving average at $0.558, then it would be best to go short with a target of $0.547 on the 55-day moving average. A break below this could see it test $0.51. But given the bullish sentiment in crypto at the moment, a bull entry holds the most potential in the next 24 hours.

XRP (XRP)

Like all other major coins, XRP (XRP) has been rallying hard in the last 24 hours. However, unlike most major altcoins that have broken clear of the 200-day moving average resistance level, XRP (XRP) is hovering closely above it. As such for an investor looking to trade in XRP (XRP) it would be best to wait it out until there is a clear break above $0.282 and $0.279. If XRP (XRP) breaks above $0.282 and above the day’s high of $0.285, it would be prudent to go long with a target of $0.355, which is the next key resistance level in the day.XRP

On the other hand, if XRP (XRP) breaks below $0.279, it would make sense to go short with a target of $0.269.  That’s the next key support level on the 100-day moving average, one that is likely to hold. If it breaks, then XRP could test $0.264 on the 55-day moving average.

ZCash (ZEC)

ZCash (ZCash) has been relatively bullish in the day. It started the day along the 55-day moving average support level at $110.74 before breaking above the 100-day moving average resistance level at $115.22. For a trader looking to trade in ZCash (ZEC), it would make sense to wait it out, until there is a clear break outside $114.88 and $121.38.Zcash

If the price breaks above $121.38 which is the 200-day moving average resistance level, it would make sense to go long with a target of $137, which is the next major resistance level on the 200-day moving average level in the day chart. On the other hand, if it breaks below $114.88, it could drop to $110.51. That’s the next key support level in the day chart, one that is likely to hold in the next 24 hours.

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