IOTA has been trading in a range for the last 24 hour, with the 55-day moving average acting as support all through this period. This means that there is positive momentum in IOTA, but it’s being held back by the low volumes in the market at the moment. As such, if market volumes increase, IOTA (MIOTA) could possibly breakout to the upside, with a target of $0.518. That’s the next major resistance level on the 100-day MA. A break above this price level could see IOTA test $0.548 on the 200-day MA within the next 24 hours.
However, if volumes remain depressed, then the likelihood of a downside break in price would be quite high. If by any chance IOTA (MIOTA) breaks below the 55-day MA at $0.50, it would be best to go short with a target of $0.47. That’s the lowest price it has hit in the last 48 hours, one that would offer significant support in the day, and possibly a good exit point from a sell order.
Ethereum Classic (ETC)
Like the rest of the market, it is a low volumes day for Ethereum Classic (ETC). It has been trading in a range for the last 24-hours, with the 55-day MA offering major support. For a trader looking into ETC with a 24-hour target, it would be best to watch the volumes. If market volumes increase, Ethereum Classic (ETC) has a realistic chance of breaking out to the upside with a target of $9.87, on the 100-day MA. A break above this level would see Ethereum Classic possibly hit a high of $10.39 on the 200-day MA.
However, if market volumes remain at current levels, then there is a risk that Ethereum Classic (ETC) could break to the downside and possibly hit $9. That’s the lowest price it has hit in the last 24-hours, even during the crash that pushed bitcoin to $6000. This makes it strong support, and a good exit point for a short trade with a 24-hour target.
Tron (TRX) is one of the few cryptos that have been largely bullish for the last 72 hours. In this period, Tron has pushed up from a low of $0.0206 to a high of $0.024. In the last 12 hours, Tron (TRX) has pushed above the 200-day MA at $0.0243 to hit a high of $0.0248, an indicator that bullish sentiment is strong, even though it has eased up a little in the last 4 hours. If in the course of the day Tron (TRX) pushes above day’s high of $0.0249, it would be best to go long with a target of $0.0257. That’s a major resistance point, one at which, Tron (TRX) has ranged at in the past, and one that could act as a good intra-day exit point.
However, if in the course of the day Tron (TRX) breaks below the 55-day MA at $0.023, it would be best to go short with a target of $0.0221. That’s a price level at which, it has lagged in the last few days, one that could offer significant support in the day.