IOTAUSD - 1D Chart Analysis
Iota is also one of the crypto currencies which has the price in the "middle" and like the rest, it's price has dropped starting with the 13th of November being influenced by the massive decrease of the market capitalization and since then it has started a sideways movement.
At this stage, it is traded below the Pivot Level (average price) for 1 week and as long as the trading volumes will remain the same, the chances to see a big change in the price movement are quite low.
From the technical perspective, the Stochastic is very close to the level of 20 but the %K (blue line) seems to be about to cross the %D (red line), indicating a slight drop of the price.
On the other hand, the RSI is 29 and it's position is indicating a possible increase of the price, confirmed as well by the MACD as long as the latter has just crossed the Signal.
Having this contradiction between the technical indicators we can expect another short period of time in which the price has big chances to move sideways, close to the Pivot's value.
If the trading volumes will remain at the same level, the awaited "correction" of the price can last longer and a possible target price can be 0.2059$.
At this stage, it is traded below the Pivot Level (average price) for 1 week and as long as the trading volumes will remain the same, the chances to see a big change in the price movement are quite low.
From the technical perspective, the Stochastic is very close to the level of 20 but the %K (blue line) seems to be about to cross the %D (red line), indicating a slight drop of the price.
On the other hand, the RSI is 29 and it's position is indicating a possible increase of the price, confirmed as well by the MACD as long as the latter has just crossed the Signal.
Having this contradiction between the technical indicators we can expect another short period of time in which the price has big chances to move sideways, close to the Pivot's value.
If the trading volumes will remain at the same level, the awaited "correction" of the price can last longer and a possible target price can be 0.2059$.
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