IOTA (MIOTA), Ethereum (ETH) & Litecoin (LTC) price analysis – 6th December – The Crypto Globalist


IOTA, Ethereum, Litecoin

IOTA (MIOTA)

IOTA (MIOTA) has been on a downtrend for the past 24-hours. In this period, it has dropped from a high of $0.290 to a low of $0.251. However, in the last few hours, it has made a slight pullback to around $0.259. But, this pullback has failed to push it above the last bearish candle at $0.269.  This is an indicator that bears are still in control of the market. To go short on IOTA (MIOTA), it would be best to wait for a break below $0.251. This would be confirmation that bears are still in control, and a trigger to go short with a target of $0.232. That’s a key support level for IOTA (MIOTA) on the weekly chart, a possible reversal point for IOTA (MIOTA).

However, in the scenario that IOTA (MIOTA) clears the last bearish candle at $0.269 and extends above the 55-day MA at $0.277, it would be an indicator of short-term bullish sentiment. This would be a trigger to go long with a target of $0.287 on the 200-day MA. If it breaks above this level, it would be an indicator that bulls are gaining strength, and could lead to a possible rally to $0.316. This is a 72-hour high and a possible exit point from a long position.

Ethereum (ETH)

Ethereum (ETH) has in the past 24-hours dropped from a high of $115.41 to a low of $102.74. In the last few hours, Ethereum (ETH) has made a slight pullback to $104.76 but it has failed to hold. This is an indicator that bearish sentiment is still strong.  To go short Ethereum (ETH), it would be best to wait for a break below the day’s low of $102.74.  This would be an indicator that bears are fully in control, and Ethereum (ETH) could possibly test $102.58. That’s a 2-weeks low and a possible exit point from a short position.

However, in the scenario that Ethereum (ETH) pushes above 12-hour high of $110.06, it would be an indicator of short-term bullish sentiment and a trigger to go long. Such a position would have a good exit point at $115.04. That’s a key resistance level on the 200-day MA.

Litecoin (LTC)

Like all other cryptos, Litecoin (LTC) has been on a downtrend.  It has dropped from a high of $32.57 to a low of $29.18. In the last 3-hours, it has stabilized at $29.64, though selling volumes are still high. To go short on Litecoin (LTC), it would be best to wait for a break below the day’s low of $29.18. This would be a signal to go short with a target of $27.55. This is a 2-week low and a possible exit point from a short-position.

On the other hand, if Litecoin (LTC) pushes above the 12-hour high of $31.31, it would be an indicator of increased bullish sentiment. This would have a good exit point at $32.78 on the 200-day MA. If Litecoin (LTC) pushes above this level, it could possibly rise to $35.70, which is a 72-hour high, and a possible exit point from a long position. A push above this would mark the return of bulls in the market.

 

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