IOTA has been bearish for the last 3 days. In this period, it has dropped from $0.525 to a low of $0.472. Its strong bearish sentiment is confirmed by the fact that it has broken below the 200-day MA and held below it for close to a day. In the last 8 hours, it has recovered some of its losses, though momentum is still strongly bearish. If in the course of the day, IOTA (MIOTA) fails to break above $0.484, it would be more prudent to go short with a target of $0.452. That’s a key support level for IOTA (MIOTA) in the day. It’s a level where IOTA (MIOTA) has ranged at, on the 6-hour chart, and one where it could reverse at in the day.
However, if IOTA makes a pullback and pushes above the 200-day MA at $0.491, it would be an indicator that bulls are returning to the market. This would be an indicator to go long on IOTA (MIOTA) with a target of $0.507. That’s a level at which, it has ranged in the last 48-hours and one where it could possibly reverse.
Monero has been on a losing streak for the last 72-hours and has dropped from a high of $114.18 to hit a low of $106.24. This drop has seen it drop below the 200-day MA at $109.16 and sustain below it for a while. That’s an indicator of strong bear power in the market, and could be a good trigger to go short on Monero. However, for a low-risk short entry, it would be best to watch the pull-back towards the 200-day MA.
If Monero (XMR) fails to break above the 200-day MA at $109.16, this price would be a good spot to go short with a target of $101.36. That’s a key support level where Monero (XMR) has reversed on the 6-hour chart. If Monero (XMR) pushes above the 200-day MA and holds above it for some hours, it would make sense to go long with a target of $112.08. That’s the next resistance level for Monero (XMR) in the day.
XRP (XRP) has been bearish in the day. However, unlike most altcoins, its drop has been weak, an indicator that bears are not that strong in the XRP market. Nevertheless, they have managed to push XRP down to a low of $0.493 and has been trading below the 100-day MA for over 12-hours. To go short on XRP (XRP) it would be best watch for $0.510. If it fails to break above this price, it would make sense to go short with a target of $0.490. That’s a key support level on the 200-day MA.
On the other hand, if it pushes upwards and breaks above this level and extends above the 100-day MA at $0.516, it would be best to go long with a target of $0.542. That’s a level where XRP (XRP) has ranged in the week and could be a possible reversal point. A break above this level could see XRP (XRP) test $0.60 in the next 24-hours, or before the end of the weekend.