After Monday’s price surge that saw IOTA (MOTA) hit a high of $0.560, it has since eased up. It has been trading in a range for the past 24-hours, above the 100-day MA at $0.504. This price level has been acting as a major support, and IOTA has held above it, all through this period. To trade in IOTA (MIOTA), it is best to wait until it breaks above outside of its current range. If by any chance IOTA breaks out to the upside and pushes above $0.520, it would make sense to go long with a target of $0.531 in the next 24-hours. That’s the next key resistance level on the 200-day MA in the day. If it pushes above $0.520, then there is a good chance that it could retest Monday’s high of $0.560.
On the other hand, if IOTA (MIOTA) drops below the 100-day MA support level at $0.504, a short entry would be more ideal, with a target of $0.487. If it breaks below this level, then it could possibly drop to last week’s low of $0.472. However, if volumes remain depressed as they are right now, then IOTA could range between $0.504 and $0.520 for the next 24-hours.
After Monday’s market pump that saw XRP (XRP) hit a high of 0.524, it has since retraced, and has been trading in a range between $0.474 and $0.448. To the downside, XRP is facing major support at $0.446 on the 200-day MA. For someone looking to trade in XRP, it makes sense to keep an eye on the 200-day MA at $0.446. That’s because if XRP breaks above this level, it would make sense to go short with a target of $0.421. This is a key support level, one which XRP could hit in the day.
On the other hand, if positive momentum rises and XRP breaks out above $0.488, then a long entry would be most ideal with a target of $0.524. That’s Monday’ high, and also a possible exit point from an intra-day bullish move. However, if volumes don’t increase, XRP (XRP) could range between $0.467 and $0.47 for the next 24 hours.
Ethereum Classic (ETC)
For the last 24 hours, Ethereum Classic (ETC) has been trading in a narrow range between the 200-day MA and the 55-day MA. The increased tightening of this range points to a scenario where ETC could be headed for a breakout. If ETC breaks out to the upside above the 200-day MA at $10.12, it would make sense to go long with a target of $11.11. That’s Monday’s high, and one that could possibly offer a good exit point in the day.
On the other hand, if Ethereum Classic (ETC) breaks below the 55-day MA at $9.90, then it could drop to $9.76, which is the next key support level on the 100-day MA. A break below this level could easily see ETC test a low of $9.47. That’s the price where ETC has lagged in the last 72 hours, and a possible exit point for an intra-day short order.