IOTA (MIOTA) like the rest of the market has seen a huge drop in the last 4 hours. It has dropped below the 200-day moving average at $0.567, and is now trading at around $0.538. This is an indicator that IOTA (MIOTA) could be in a short-term bear run. For a trader looking to get into IOTA (MIOTA) with a 24-hour target, it would be best to wait it out until the price stabilizes around a key support or resistance level. To the downside, the next possible support level is at $0.512. This is a key support level in the one hour chart. It’s a price level at which IOTA (MIOTA) has reversed from in the past week.
If in the next 6 to 12 hours IOTA (MIOTA) breaks below $0.512 and extends below the week’s low of $0.501, it would be best to go short with a target of $0.479. That’s the next key support level IOTA could test in the 6 hour chart. On the other hand, if IOTA (MIOTA) makes a pull back and breaks above $0.579, it would be best to go long with a target of $0.609. A push above that could see it test $0.65.
Like the rest of the market, XRP (XRP) has dropped hard in the last few hours, and has broken below the 200-day moving average at $0.274, and has hit a low of $0.268 in the last 2 hours. Going by its current price action, it would be best to go short with a target of $0.255. That’s the next key support level at which, XRP (XRP) could either range or reverse in the day.
However, with a short entry, it would also be prudent to watch out for $0.263 as well. This could offer some level of support as well. In case there is a price reversal and XRP breaks back above $0.288 on the 21-day moving average, it would be more prudent to go long with a target of $0.30. That’s the next key resistance level on the 100-day moving average.
Dash (Dash) coin is bearish at the moment, after bitcoin (BTC) dropped to $6200 and pulled the whole market with it. However, unlike most altcoins, Dash coin (Dash)’s drop is just a minor correction. It is currently trading just slightly below the 200-day moving average at $191. 45. For a trader looking to make a short-term entry into Dash coin (Dash), it would be best to wait for a clear break below the last 24 hour low of $184.39.
This would be a good entry point with a target of $180. That’s a 4 day low, one that could see it offer significant support in the day. On the other hand, if buying momentum returns to the market and pushes back above $193.5, then it would be best to go long with a target of $200. That’s the next key resistance level one that could hold strong in the day.
However, for any moves into Dash or any other altcoin, it is best to also keep an eye on bitcoin. If bitcoin doesn’t pull back above $6400, then a short entry carries the most possible return.