IOTAUSD - 1D Chart Analysis
Updated
As with Ethereum, the price of Iota has followed the same pattern with 3 different occasions :
1. The price increase which was registered on the 15th of December has been announced by the MACD's crossover on the 10th, the RSI's level of 48 registered with one day before and confirmed by the Stochastic with it's "fast" line coming above the "slow" one on the 16th.
As a result we could see a price increase which lasted 26 days (out of which 23 were of bullish trend) and a total growth of 0.1616$ or almost 75%.
2. On the 10th of January, when the price went below the 20 days Moving Average and when the bearish trend has officially started, the RSI had a neutral position at 44, signaling that there were small chances to see an aggressive movement after the big drop in the same day.
On the other hand, the ones which have announced the trend change were the Stochastic, which has registered a crossover on the 4th of January and the MACD which went below the Signal on the 9th.
As a result, we could see how the price has dropped and we can consider this period more like one in which the price has slowed down, as long as the daily average movement was constantly low for this sector.
3. The last was the price increase which we could see on Friday, the 8th of February.
In this scenario, the change in the price direction has been announced first by the RSI, which had the level of 30 and by the Stochastic's crossover registered on the 6th. This movement has been confirmed on the second day by the MACD as well, with it's Signal positioning on the bottom.
Today, these 3 indicators are in contradiction, as it follows :
* The RSI has a neutral position, at the level of 46, meaning that there is no "impulse" coming soon;
* The Stochastic is about to register a crossover, meaning that a possible price decrease may start anytime soon
* The MACD is still above the Signal, meaning that the bullish trend which has just started is not over yet.
As we can see, the technical indicators are showing different directions, more like on the 16th of December, but if the trading volumes will remain at least constant, it is possible to see the price of Iota setting a new height around the level of 0.31$ for the upcoming days.
1. The price increase which was registered on the 15th of December has been announced by the MACD's crossover on the 10th, the RSI's level of 48 registered with one day before and confirmed by the Stochastic with it's "fast" line coming above the "slow" one on the 16th.
As a result we could see a price increase which lasted 26 days (out of which 23 were of bullish trend) and a total growth of 0.1616$ or almost 75%.
2. On the 10th of January, when the price went below the 20 days Moving Average and when the bearish trend has officially started, the RSI had a neutral position at 44, signaling that there were small chances to see an aggressive movement after the big drop in the same day.
On the other hand, the ones which have announced the trend change were the Stochastic, which has registered a crossover on the 4th of January and the MACD which went below the Signal on the 9th.
As a result, we could see how the price has dropped and we can consider this period more like one in which the price has slowed down, as long as the daily average movement was constantly low for this sector.
3. The last was the price increase which we could see on Friday, the 8th of February.
In this scenario, the change in the price direction has been announced first by the RSI, which had the level of 30 and by the Stochastic's crossover registered on the 6th. This movement has been confirmed on the second day by the MACD as well, with it's Signal positioning on the bottom.
Today, these 3 indicators are in contradiction, as it follows :
* The RSI has a neutral position, at the level of 46, meaning that there is no "impulse" coming soon;
* The Stochastic is about to register a crossover, meaning that a possible price decrease may start anytime soon
* The MACD is still above the Signal, meaning that the bullish trend which has just started is not over yet.
As we can see, the technical indicators are showing different directions, more like on the 16th of December, but if the trading volumes will remain at least constant, it is possible to see the price of Iota setting a new height around the level of 0.31$ for the upcoming days.
Trade closed: target reached
the position has been closed on profit
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