2018-11-12 14:37 |
IOTA/USD Medium-term Trend: Bullish
Resistance levels: $0.52, $0.54, $0.56
Support levels: $0.46, 0.44, $0.42
IOTA has been on a note of increase against the USD currency as at the start of today’s trading session. The middle Bollinger Band has a high threshold for the current bullish trend in the IOTA/USD market to support it further in a subsequent price upswing.
Yesterday, the crypto experienced a decline towards $0.47 levels below the middle Bollinger Band but it began to rise again towards the end of the trading hour of the day. The market line has now been trying to push northwards past both the 50-day SMA and the upper Bollinger Band. The Stochastic oscillators now point to the north. The bulls appear to continue taking the market control as price levels up to the immediate level of $0.52 may be seen past in the process.
IOTA/USD Short-term Trend: Bullish
The IOTA/USD market has been successively pushing northwards along with the upper Bollinger Band since the beginning of trading hour today. As at now, the crypto has slightly moved past the previous Nov. 10 price high and while it maintains the momentum, it could achieve the $0.51 next price level.
The middle Bollinger Band and the 50-day SMA have conjoined below the horizontal market line of $0.49. The Stochastic Oscillators have dipped into the overbought zone. That suggests that the crypto-market has reached its peak buying condition to either sound a warning against further longing of positions or, not exercising a caution in regards to placing a trade.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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