Ethereum Classic (ETC), Stellar (XLM) & NEO (NEO) technical analysis 19th September – Crypto Recorder

Ethereum Classic (ETC)

Ethereum Classic (ETC) has made some significant gains in the day. It has pushed up from a low of $10.01 to a high of $10.80. Currently, it is trading in a range between $10.66 and $10.78. To trade in Ethereum Classic (ETC), it would be prudent to wait for a breakout, outside of this range. If Ethereum Classic (ETC) continues to make gains and pushes above $10.78, and past the 55-day moving average at $10.83, it would make sense to go long with a target of $11. That’s the next major resistance level on the 200-day moving average. A break above this level could see it rise to $11.30.

That’s the next major resistance level in the day. On the flip side, if Ethereum Classic (ETC) fails to hold above $10.66 and tests $10.48 in the day, chances are that it could be headed lower. In such a scenario, it would be best to go short, with a target of $10.15. That’s the next key support level in the day, one at which it could range or possibly reverse. However, if market volumes decline, then Ethereum Classic (ETC) could range at around $10.81 and $10.64 for the next 24 hours. Volumes do play a huge role in sustaining a trend, and if they are low then a trend can’t hold, hence the possible range.

Stellar (XLM)

Stellar (XLM) has made significant gains in the last 24 hours, pushing up from a low of $0.192 to a high of $0.214. In the last 4 hours, Stellar (XLM) has gained by over 5% an indicator that bullish sentiment is strong in this market. For someone looking to day trade in Stellar, it would be best to hold until the price rests on a key support level, or consolidates above a major resistance level. For someone looking to buy into Stellar (XLM), it is best to wait until the price breaks above $0.214. That’s the last high it has hit and reversed in the last one week, which makes it a strong resistance point. As such, if Stellar (XLM) breaks above this price level, it would be a good time to go long, with a target of $0.228.

That’s the next key resistance on the 12-hour chart’s 200-day moving average. On the flipside, if Stellar doesn’t break above $0.214, it would be best to go short, with a target of $0.199. That’s the next support level on the 200-day moving average, one that would make a low-risk exit point from an intra-day short position. However, if it breaks below this level, then Stellar could head lower and test a low of $0.190, the week’s lowest price level.

NEO (NEO)

NEO has made significant gains in the last 24 hours, pushing from a low of $16.21 to a high of $17.55. For anyone looking to trade in NEO (NEO), then it would be best to wait out until NEO (NEO) consolidates and makes a break outside a key support or resistance level. If NEO (NEO) pushes above the 200-day moving average at $17.78, then it would make sense to go long with a target of $19.0. That’s the next key resistance level in the 12-hour chart’s 55-day moving average.

On the other hand, if the value of NEO (NEO), breaks below $17.02, then it would make sense to go short with a target of $16.42. That’s the next key support level, one that would offer a low-risk exit point from an intra-day short position. It is also important to keep an eye on the price of Bitcoin (BTC). If bitcoin holds above $6300, then a long entry holds the most promise for NEO and other altcoins. The reverse is also true. If it fails to hold, then a short entry would offer the most promise.

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