IOTA Signals A Long-Term Trend Reversal

IOTA Signals A Long-Term Trend Reversal
фото показано с : beincrypto.com

2020-6-18 23:15

The IOTA price has been consolidating near 2000 satoshis since August 2019. The price has been showing strong signs of a reversal, indicating that a bullish trend may soon begin.

Weekly Analysis

The weekly chart for IOTA reveals that the price has been decreasing since September 2018. While the decline was initially rapid, it has since gradually decreased. The price reached a low near 2000 satoshis in August 2019.

During this period, the weekly RSI formed considerable bullish divergence, a sign that the price is likely to move upwards, starting a new long-term trend. Volume has been increasing throughout the recent bullish weekly candlesticks – another bullish sign.

If the price indeed begins to move upwards, the closest resistance areas are found at 5,830 and 10,100 satoshis.

IOTA Chart By Tradingview

Well-known trader @LSDinmycoffee agrees with the long-term potential for IOTA. He believes that it’s one of the coins with the best-looking setup currently.

Out of all the shitcoin perp swaps, the best looking ones are $IOTA / $IOST

Trend Reversal

In the daily chart, IOTA is following a rising support line and has just bounced on it. It is in the process of creating a bullish engulfing candlestick.

Furthermore, the price has moved above its 100-day moving average (MA). This MA has been an almost perfect indicator of the trend since September 2019. In other words, price action had remained bullish when the price was above this MA, and vice versa.

IOTA Chart By Tradingview

The short-term chart aligns with this view. It seems that the price has completed a five-wave Elliott formation on June 4, and has been correcting inside a descending parallel channel since.

It’s possible that the price finished correcting on June 15, when it created a double bottom combined with a bullish divergence on the RSI.

This would be confirmed with a breakout above the resistance line of the channel.

IOTA Chart By Tradingview

To conclude, the IOTA chart indicates that the price is likely to begin a long-term trend reversal soon. This would be confirmed by a breakout above the descending resistance line of the current short-term channel.

The post IOTA Signals A Long-Term Trend Reversal appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

IOTA (IOTA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.2993
Капитализация $0 Rank 99999
Цена в час новости $ 0.2247 (-100%)

iota price reversal trend weekly bullish soon

iota price → Результатов: 126


Iota Price Prediction 2023 – 2025 – 2030 | IOTA Price Forecast

In this guide, we will voice our own and market’s opinion on IOTA future while discussing Iota price forecast for Q4 2023 and beyond. Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of […] The post Iota Price Prediction 2023 – 2025 – 2030 | IOTA Price Forecast appeared first on CaptainAltcoin.

2023-10-28 07:53


IOTA Price Prediction 2020 | 2025 | 2030 – Future Forecast For IOTA Price

IOTA Intro IOTA was started to provide distributed ledger technology for the machines and internet-of-things (IoT) space where small connected devices regularly share data. Because these machines and devices are generally specialized to be low power and perform only specific functions IOTA does not use a traditional consensus mechanism like proof-of-work or proof-of-stake nor does […]The post IOTA Price Prediction 2020 | 2025 | 2030 – Future Forecast For IOTA Price appeared first on CaptainAltcoin.

2019-12-17 23:01


IOTA Price Prediction 2019 & 2020 – Future Forecast For IOTA Price

IOTA Intro IOTA was started to provide distributed ledger technology for the machines and internet-of-things (IoT) space where small connected devices regularly share data. Because these machines and devices are generally specialized to be low power and perform only specific functions IOTA does not use a traditional consensus mechanism like proof-of-work or proof-of-stake nor does […]The post IOTA Price Prediction 2019 & 2020 – Future Forecast For IOTA Price appeared first on CaptainAltcoin.

2019-10-7 03:03


IOTA Price Analysis: IOTA Continues to Trade in Narrow Range — Can the Bulls Push the Market Above the Upper Boundary at $0.81?

IOTA, the decentralized cryptocurrency dedicated to the Internet of Things, has seen a small price increase totaling 1.12% over… The post IOTA Price Analysis: IOTA Continues to Trade in Narrow Range — Can the Bulls Push the Market Above the Upper Boundary at $0.81? appeared first on Invest In Blockchain.

2018-10-5 08:58