It’s a low volumes day for Stellar, but it is still trading in positive territory. For the last 12 hours, it has been trading above the 200-day moving average at $0.198, which is a significant support level at this time. This goes to show to that even though volumes are low, buying sentiment is still prevalent. For an investor looking to buy into Stellar (XLM), it would be best to watch the 200-day moving average in the 4 to 6 hours. If Stellar holds above $0.198, a long entry at that level would be most ideal with a target of $0.214. That’s the last high it has hit in the last 48 hours, and one that could offer a significant level of resistance in the day.
On the other hand, if Stellar (XLM) breaks below $0.198 and extends below the 24 hour low of $0.195, then it would be more prudent to go short, with a target of $0.184. That’s the lowest point it has hit in the last 4 days, and one that could offer a significant amount of support in the day. However, if volumes don’t increase and Stellar (XLM) doesn’t break above the 55-day moving average at $0.203, then chances are that it will range at this level for the next 24 hours.
Ethereum Classic (ETC)
In the last 24 hours, Ethereum Classic (ETC) has had very low volumes, and has been trading in a narrow range between the 100-day moving average support at $10.96 and the 200-day moving average, which is now acting as resistance at $11.87. For a day trader looking into Ethereum Classic (ETC), then it would it would be best to wait for a break outside of this range. If it breaks above it and past the 24 hour high of $11.38, it would be more prudent to go long, with a target of $12.12, an area that it has ranged in the past.
However, if Ethereum Classic (ETC) breaks below the 100-day moving average at $10.96 and extends below the day’s low of $10.88, it would be best to go short with a target of $10.31. That’s a key support level for Ethereum Classic (ETC) in the last 3 days.
Litecoin (LTC) has been strongly bullish in the last 24 hours. It started at the 100-day moving average support level, broke above the 200-day moving average resistance to test a high of $59.02. In the last 12 hours it has retraced back to around $56.55, but increasing buying volumes are holding it firmly above this level.
For an investor looking to trade in Litecoin, it would best to wait it out, until it breaks above the day’s high of $59.02. A break above this price level could be a signal to go long with a target of $69.41. That’s the high it has hit in the last one week, one that would most likely offer some level of resistance. However, if Litecoin breaks below $55.98, it could be time to go short with a target of $54.17. That’s a key support level on the 200-day moving average, one that would most likely hold in the day.