Analysis of the IOTA/USDT Weekly Chart Using Elliott Wave Principle
Overview & Key Elements
The chart represents the IOTA/USD pair on a weekly timeframe with Elliott Wave structures, Fibonacci retracements, and channel trends.
Key observations:
• completed five-swing downtrend.
• corrective wave (ABC) retracement following the previous bear market.
• potential macro bottom around $0.06-$0.07, indicating capitulation.
• price has bounced off key Fibonacci levels (0.618, 0.786).
• Fibonacci extension targets project potential upside targets at $2.74, $6.61, and $7.50.
• Bearish parallel channel: The price recently broke out of the descending structure.
• Resistance zones: Around $0.60, $0.85, and $2.75 before reaching the higher targets.
• RSI Indicator: previously in oversold territory, now signaling a potential macro reversal.
• The momentum is turning bullish, aligning with the forecasted Wave 3 impulse move.
What Does This Mean for Price Action?
Bullish Reversal Confirmed:
The price action suggests a completed bear market correction and the beginning of a new impulsive bullish wave (likely Wave 3).
A break above $0.57 and $1.00 would strongly confirm this bullish scenario.
Potential Targets for 2025-2026:
• $1.00 - $1.50 → Initial major resistance zone.
• $2.74 - $3.40 → Key Fibonacci extension level, historically significant.
• $6.61 - $7.50 → Maximum projected target based on the 1.236 Fibonacci extension.
Risk Factors:
If IOTA fails to hold above $0.12 - $0.15, further downside towards $0.06 could occur before resuming upward. A break below $0.06 would invalidate this bullish setup.
Conclusion:
Highly bullish setup for IOTA with a strong Elliott Wave structure.
Long-term accumulation levels: $0.12 - $0.20.
Target zones for the next bull run: $2.30 - $7.50.
A parabolic breakout is likely in 2025
Overview & Key Elements
The chart represents the IOTA/USD pair on a weekly timeframe with Elliott Wave structures, Fibonacci retracements, and channel trends.
Key observations:
• completed five-swing downtrend.
• corrective wave (ABC) retracement following the previous bear market.
• potential macro bottom around $0.06-$0.07, indicating capitulation.
• price has bounced off key Fibonacci levels (0.618, 0.786).
• Fibonacci extension targets project potential upside targets at $2.74, $6.61, and $7.50.
• Bearish parallel channel: The price recently broke out of the descending structure.
• Resistance zones: Around $0.60, $0.85, and $2.75 before reaching the higher targets.
• RSI Indicator: previously in oversold territory, now signaling a potential macro reversal.
• The momentum is turning bullish, aligning with the forecasted Wave 3 impulse move.
What Does This Mean for Price Action?
Bullish Reversal Confirmed:
The price action suggests a completed bear market correction and the beginning of a new impulsive bullish wave (likely Wave 3).
A break above $0.57 and $1.00 would strongly confirm this bullish scenario.
Potential Targets for 2025-2026:
• $1.00 - $1.50 → Initial major resistance zone.
• $2.74 - $3.40 → Key Fibonacci extension level, historically significant.
• $6.61 - $7.50 → Maximum projected target based on the 1.236 Fibonacci extension.
Risk Factors:
If IOTA fails to hold above $0.12 - $0.15, further downside towards $0.06 could occur before resuming upward. A break below $0.06 would invalidate this bullish setup.
Conclusion:
Highly bullish setup for IOTA with a strong Elliott Wave structure.
Long-term accumulation levels: $0.12 - $0.20.
Target zones for the next bull run: $2.30 - $7.50.
A parabolic breakout is likely in 2025
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.