IAGON - Bullish Breakout for now
Price is determined by resistance and support. We start with a downward trendline that is broken towards the upside - even breaking through the pivot. Our leading indicator (the 8/21 EMA) is showing a "buy" signal. RSI above the 50. MACD rolled up and is above the centerline. Ichimoku is 3 for 4 on the long position. All that needs to happen to the price is to clear the cloud. Alright enough Dr Jekyll, now its time for Mr Hyde. It's got a long way up towards the 50 fib. Its got about a week (approx) before it breaks above the cloud. And here's the kicker... Iagon is migrating away from Ethereum and switching blockchains to Cardano next week sometime (4/18/22 through 4/22/22). Whenever a token switches/upgrades or whatever... there's volatility and that typically doesn't bode well in the short term in most cases. My guess is that this chart has all these changes built into the indicators we're seeing today - which is why it is bullish for now. But be careful where you put your money. If your trading this, you'll want to exit your trade before sometime next week. If you believe in this ecosystem, however, then buy into the migration and enjoy the ride.
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