IOTA: After Hitting a Bottom, IOTA’s Price Rallies 60%

2018-12-21 17:29

IOTA Weekly Logarithmic Chart – Source: Tradingview.com

A look at the Weekly chart for IOTA in logarithmic form shows that price broke the $0.4 level of support and fell to $0.2, a drop of 95% from the January high, forming a bottom in early December.

However, during the last week, it launched a 60% rally, and it is trying to touch the $0.4 resistance again.

Long-Term Outlook IOTA Weekly Chart – Source: Tradingview.com

Staying with the Weekly chart, this time in non-logarithmic form, a look at the indicators shows that the MACD rejected a bearish cross, and is now continuing upward.

RSI touched 30, and there is no divergence of any kind yet.

The price is facing resistance from the 7-period moving average, corresponding with the $0.4 area of resistance.

Medium-Term Outlook Chart – Source: Tradingview.com

A look at the 3-day chart gives a similar scenario.

The RSI fell below 30 for the first time, and the MACD made a bullish cross and is now moving up.

Price is below all the moving averages and is facing resistance from the 7-period MA.

Short-Term Outlook Chart – Source: Tradingview.com

A look at the daily chart gives a clearer indication of short-term movements.

There is significant bullish divergence developing in the RSI and the Chaikin Oscillator. Furthermore, the MACD is almost positive.

Conclusions Price has fallen 95% from the January high to $0.2 in early December. During the last week, the price has appreciated 60%. Short-term indicators are bullish. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

IOTA: After Hitting a Bottom, IOTA’s Price Rallies 60% was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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IOTA (IOTA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.2993
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iota price bottom rallies hitting touch trying

Источник: blokt.com

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