Is IOTA ready to MOON?Hello, crypto maniacs!
On the 4H chart, IOTA is currently sitting on a strong support (dark blue line), which is perfectly matching with 0.23 Fib Retracement level.
Above the current price, at 0.00024572 level (red line), IOTA faced hard resistance.
Note the white box, where this exact same level was serving as resistance, there IOTA pulled back before it's rise to the ATH.
Also, please check both yellow circles at 0.00013109 level (white line).
The one, on the left, marks the begging of the previous bull run to the ATH. The other one marks the trend reversal from the Fib Retracement.
So, what does all that means?! Is IOTA going to take it's flight to the MOON soon?
I will let you determine for yourself!
NOTE: THIS IS NOT A FINANCIAL OR INVESTMENT ADVISE!
Iotaanalizi
IOTA Death Cross formation - Prepare for price dropIOTA had a Death Cross formation on the daily chart. Death Cross is an important bearish signal generated when the 50-day moving average crosses below the 200-day moving average.
Stoch RSI is over-bought on the daily chart which also confirms the possible bear run.
I expect the price to drop till 1.2148 (fib. 0.618)
Here is my trading idea:
Short at: 1.31
Take profit at: 1.21
Stop loss: 1.45