Tron (TRX)
Tron (TRX) has been relatively bullish in the day, pushing from a low of $0.0195 to a high of $0.021. However, in the last 6 hours, it seems to have eased up, and is now trading in a range between $0.0203 and $0.0206. But this range is above the day’s longest green candle, an indicator that Tron (TRX) still has bullish momentum in it. However, for a low-risk buy trade, it would be best to wait it out until the Tron (TRX) breaks above the day’s range at $0.0206 and extends above the day’s highest price of $0.021. This would be confirmation to go long, with a target of $0.0218. That’s the next key resistance level on the 100-day moving average on the 6 hour chart. If it breaks above this level, then it could test a high of $0.0226 on the 200-day moving average on the 6 hour chart.
However, if Tron (TRX) drops below $0.020 in coming hours, it would be best to go short with a target $0.0194. That’s the next key support level on the 100-day moving average, a level at which, it could range in case of a price drop in the next 24-hours.
Ethereum (ETH)
Ethereum (ETH) has been trading in a range between $212.5 and $207.3 for the last 24 hours. For someone looking to trade in Ethereum (ETH) with a 24 hour target, it would be best to wait until it breaks outside of this range. If it breaks out to the upside and pushes above the day’s high of $216, it would be best to go long, with a target of $224. That’s the next key resistance in the day, one that could offer a significant level of resistance in the day, and act as a good exit point for an intra-day long trade.
On the flip side, if Ethereum (ETH) breaks below $207.3, it would be best to go short with a target of $195. A break below this could see it test a low of $175 on the 6-hour chart. That’s the next key support level in the day, one at which it could range in the next 12 – 24 hours. However, if volumes remain low in the day, then it will most likely range at around $212 – $207.
Stellar (XLM)
Stellar (XLM) has been trading along the 100-day moving average for the last 24 hours. However, in this period, it has failed to break above it, an indicator that bullish momentum could be declining in Stellar in the short-term. For an investor looking into Stellar (XLM), it is best to keep an eye on the 100-day moving average level at $0.21. If Stellar (XLM) breaks above it and extends above the 200-day moving average at $0.218, it would be best to go long, with a target of $0.234. That’s the next key resistance level in the day, one where Stellar could possibly range or reverse in the short-term.
However, if Stellar (XLM) fails to break above the 100-day moving average level and drops below the 55-day moving average at $0.200, it would be more prudent to go short, with a target of $0.184. That’s the next key support level in the day, one that could offer a significant level of support. However, in case volumes remain low in the day, then chances are that it could range at around $0.214 and $0.205.
