Ethereum Classic (ETC), IOTA (MIOTA) & Dash coin (Dash) – 3rd October
Ethereum Classic (ETC) Ethereum Classic (ETC) has been trading in a range for the last 24 hours. This is largely due to the low volumes that have hit the market in this period. It has been trading between the 200-day support MA at $11.17 and $11.29 on the 100 – MA. For a good trade in this crypto, waiting it out would be the best option. If by any chance, Ethereum Classic (ETC) pushes below the day’s support at $11.17, it would be a clear indicator that bears are in control of the market. As such, selling at around $11.14 to $11.06 would be a high probability trade, with an exit point at $10.46. That’s Ethereum Classic’s major support level in the short-term, one at which it, could range in the day.
However, if by any chance Ethereum Classic (ETC) rises above the day’s resistance point at $11.29, a buy order would be the best. A good exit point for this trade would be $11.58, since it is the last high point it has hit in the last one week and could be a possible reversal point. But, if volumes stay depressed as they have been in the last 24 hours, then Ethereum Classic (ETC) could trade at between $11.28 and $11.17.
IOTA (MIOTA) hit a high of $0.571 in the day before dropping to a low of $0.550. It is now trading at around $0.555, which is a major support level, one where it has lagged in the past. As a matter of fact, IOTA (MIOTA) has now formed a double bottom at this price level. As such, there is a high probability that IOTA (MIOTA) could rise from this level going into the next 24 hours. If it gains upside momentum at this area, IOTA could rise to a high of $0.58 in the day. That’s a price level it has reversed at in the last 72 hours, and one that could offer some level of resistance in the next 24 hours.
However, if sellers overpower bulls at this level, and it drops below $0.549, IOTA (MIOTA) could drop further to $0.537. That’s a week’s low, one at which, it could reverse from the course of the day, if it hits it.
Dash coin (Dash)
Dash coin (Dash) has in the last 4 hours broken downside from a 24-hour range. It has dropped from $187.72 to a low of $177.90. However, it has in the last hour made a slight bounce-back to test a high of $183.92. The fact that this bounce-back has not taken Dash coin back to around $187 is an indicator that bears are still strong in this market. If by any chance Dash does not retest $187 in the next 12 hours or so, selling it would be a profitable move with a target of $170.71. Similarly, if the price at any point drops below the low of $177.90, a short order would still be a high probability trade with a target of $170.71.
But, if in the day Dash rises above $187.72, it would signify bullish momentum. Buying at this price level would have a high probability of profit with a take profit of $193.07. That’s the 6-hour 55-day MA and a significant resistance point for the day.