Stellar (XLM) is one of the better performers today, and is up by around 2%. Looking at the charts, Stellar started the day negative just like the rest of the market and hit a low of $0.18. However, it has been gaining from that point on, and has pushed above two key resistance levels namely the 55-day moving average at $0.191 and the 100-day moving average at $0.193. This is an indicator that there is an increased level of bullish momentum in Stellar (XLM). For a trader looking to trade in Stellar (XLM) with a 24-hour target, the key level to watch is the $0.193 on the 100-day moving average.
If the price breaks below this price and falls further below $0.191, then it would be best to go short with a target of $0.183. This is the last low that Stellar (XLM) has hit in the day chart. On the flipside, if Stellar (XLM) holds above $0.193 for the next 6 – 12 hours, a long entry would be most ideal with a target of $0.203. This is a key resistance level on the 200-day moving average, a level where Stellar (XLM) could range or reverse in the short-term.
Ethereum (ETH) has been one of the biggest losers in the last few weeks. Today, it started the day in the red and has hit a low of $167.64. However in the last 5 hours, it has made minor gains, and is now ranging at between $174 and $170, but could break back to the downside, due to the high selling volumes in the market right now. For a trader looking to trade in Ethereum in the next 24 hours, it is best to watch for the $170 price level. If Ethereum (ETH) breaks below $170, then chances are that it could be headed lower with a target of $151.
That’s a key support level on the weekly chart, one where Ethereum could range, or drop further, if selling pressure increases. On the other hand, if Ethereum makes a push to the upside above $193 in the next 6-12 hours, then it could make some gains to the upside and test $217 in the next 24 hours. Though this highly unlikely with the strong selling pressure it is facing at this point.
Dash is one of the biggest losers in the day. It opened trading at $187.57 and has dropped to a low of $169.94. After a minor retracement to $176.14, Dash has regained bearish sentiment and is now headed lower. If it maintains this bearish momentum, Dash coin (Dash) could test a low of $141.75. That’s the next key support level on the day chart.
From the charts, chances of a Dash upside rebound are minimal. It can happen, but from a trading perspective, a short entry offers the most promise from a risk/reward perspective. The selling momentum is quite high in the market to support this.