IOTA, Ethereum Classic, XRP

IOTA (MIOTA)

After trading in a range between $0.524 and $0.537 for the last 4 days, IOTA (MIOTA) has finally broken out to the upside, and has touched a high of $0.544. That’s an indicator that it could be gaining bullish momentum. However, while this could be a signal to go long, it is better to wait for more confirmation before making a buy order. That confirmation would be in the form of a break above the 100-day moving average at $0.545. If in the course of the day IOTA (MIOTA) breaks above this price level, a buy entry would be most ideal with a target of $0.55. That’s the 200-day moving average level, one that could offer a significant level of resistance in the day. A break above it could see IOTA (MIOTA) touch a high of $0.575, a level at which, it has lagged in the past.IOTA

However, if IOTA fails to push above the 100-day moving average at $0.544, and drops below the day’s support at $0.562, it would be a signal to go short, with a target of $0.503. That’s the lowest point it has hit in the last 24 hours, one that could offer a significant level of support in case of a downside break.

ZCash (ZEC)

ZCash (ZEC) has been trading along the 200-day moving average resistance level at $114.63. In that period, it has failed to break above this price level, despite hitting it several times. This is a strong indicator that ZCash doesn’t have enough bulls in the market, and could be headed for a drop. For a trader looking to go short on ZCash (ZEC), it would be best to wait it out until it drops below the day’s low of $111.88 on the 55-day moving average. A break below this price could see its value drop to $105.36.Zcash

However, if in the course of the day ZCash (ZEC) breaks above the day’s resistance level at $114.49, and pushes above the last high of $115.04, it would be a sign to go long, with a target of $119.88. That’s a level at which, ZCash (ZEC) has ranged in the past, and one where it could gain a significant level of resistance in the day.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been trading along the 200-day moving average resistance level for the last 18 hours. The fact that it has failed to break above this level means that Ethereum Classic (ETC) could be short-term bearish. For someone looking to short Ethereum Classic (ETC) in the day, it would be best to wait until it breaks below the last intra-day low of $10.58 on the 55-day moving average. Such a trade would have a target of $9.99. That’s the last low it has hit in the last 48 hours, one that could offer a good exit point for a 24-hour sell order.Ethereum Classic

However, if in the course of the day Ethereum Classic (ETC) breaks above the 200-day resistance level, and pushes above $11, it would be best to go long, with a target of $11.30. That’s the next level it has ranged at in the past, one at which, it could range again in the future.

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