Technical analysis XRP (XRP), Litecoin (LTC) and IOTA (MIOTA) 1st – 2nd September – Crypto Recorder

XRP (XRP)

XRP (XRP) is sending downward signals in weekend trading. In the last hour, he formed a bearish engulfing model, after moving from a maximum of $ 0.344 to a minimum of $ 0.336. This is an indicator that currently has control of this market and may see it testing new lows throughout the day. If this continued bearish impulse, XRP could test $ 0.332 during the day. This is a key level of support on the 1-hour to 200-day moving average.

A break below that could see you test a minimum of $ 0.328, which is the last minimum, in the last 5 days. However, for a short low-risk item, it would be best to wait until the price fell to $ 0.335. This item would have a target of $ 0.332. However, if this configuration is not met, it could be a signal for a possible price reversal. In that case, it would be better to wait until a bullish model is formed, from the price that rises above the last maximum of $ 0.344. At that point, a long entry would be the most ideal with a profit target of $ 0.355 in intraday trading

Litecoin (LTC)

Litecoin formed a bearish bearish pattern, and price action now confirms that could be heading lower. If the current downtrend is sustained, LTC could be headed lower, with short-term support at $ 61.33 on the 100-day moving average.

Based on this scheme on the 1 hour chart, a brief entry into Litecoin (LTC) for $ 64.10 – $ 63.83 would be ideal with a goal of $ 61.45 . However, if the price returns back above $ 65.44, it may invalidate the bearish sentiment and create a long entry setup at $ 65.45 with a target of $ 74.89, which is a key resistance level in the daily charts. .

IOTA (MIOTA)

The IOTA (MIOTA) is currently trading on the 100-day support level at $ 0.723. He has returned to this level after a series of gains over the last 12 hours. As such, if the current price level is valid, then IOTA (MIOTA) could be driven towards further gains throughout the day. To make a low-risk purchase in IOTA (MIOTA), it would be best to wait until the price will rise above the last day's high of $ 0.760.

It would be a perfect point of purchase with a target of $ 0.80, the highest price level in the last 5 days. However, if the IOTA were to fall below the 100-day average at 1 hour at $ 0.722, it would be a clear signal to go short with a target of $ 0.665, which was a key level of support for the last 5 days.