2018-12-30 23:08 |
IOT/USD Long-term Trend -bullish
Supply zone: $0.8000, $0.9000, $1.0000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA is still in a bullish trend in the long-term outlook. $0.4088 in the supply area was the high the bulls could manage to push the coin on 24th December before it lost momentum as exhaustion sets in with a bearish pinbar formed when the market session ended.
The retracement to the downside by the bears was around the 50.0 fib level, a trend reversal zone as price dropped to $0.3131 in the demand area.
The formation of a bullish engulfing candle was an indication of the bulls returned, MIOTAUSD was up at $0.3819 in the supply area on 28th December which is within the 23.6 fib level a trend continuation zone.
With the stochastic oscillator signal pointing up at 65% and price above the two EMAs crossover. These suggest upward momentum in price of the cryptocurrency in the days ahead with a retest of $0.4088 in the supply area and subsequent breakout in the long-term
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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