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Iotausdt

IOTA - Hopium, Hopium, and Hopium...IOTA is looking slightly bullish on the daily timeframe as it is about to break out of the triangle. Not to mention, bulls did an amazing job defending the daily MACD cross right at the zero mark. On the weekly timeframe, we can see the RSI making a potential inverse head and shoulders pattern. Similar to every inverse head and shoulders pattern, we must wait for the break of neckline resistance as confirmation. Using a variety of synthetic currency pairs, we can compare the strength/weakness between IOTA and other cryptocurrencies. In this example, we will use synthetic pair IOTUSD/NEOUSD which simplifies into IOT/NEO. There's a very visible bearish divergence in MACD, RSI, and Stochastic. There's a possibility that money from algo traders that are trading synthetic currency pairs may go into IOTA due to its temporary weakness against other cryptocurrencies. But keep in mind, this is simply a method to compare the strength/weakness between two highly correlated asset. USD value of IOTA does not necessarily have to go up in order for IOT/NEO to go down. Using IOT/ETH pairing, we could see that we're approaching a long term support trendline with a double bottom starting to form. This further supports my point in IOT/NEO: IOTA should theoretically gain strength compared to other cryptocurrencies in the coming days or weeks. Just like every single double bottom, a retest of the neckline is necessary. The neckline support must hold or else it would indicate that IOTA is still too weak. Feel free to share your long-term bearish ideas, it's always good to know both sides.
BITFINEX:IOTUSDLong
by Ernest_Ar
IOTA/USDT forms the Triangle PatternIn the time frame D1, IOTA/USDT goes sideway and forms the Triangle Pattern, characteristic of complex waves according to Elliott wave Targets at the connections forming the upper support line of the triangle Buy at $0.2990 - $0.3010 Target 1: $0.3300 Target 2: $0.3900 Stoploss: $0.4400 Risk / Rewark Ratio Tp1 = 2.26 Risk / Rewark Ratio Tp2 = 6.78 Risk / Rewark Ratio Tp2 = 10.41 ** If you like our content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by DrDarvas
IOTAUSD - 1D Chart AnalysisAs with Ethereum, the price of Iota has followed the same pattern with 3 different occasions : 1. The price increase which was registered on the 15th of December has been announced by the MACD's crossover on the 10th, the RSI's level of 48 registered with one day before and confirmed by the Stochastic with it's "fast" line coming above the "slow" one on the 16th. As a result we could see a price increase which lasted 26 days (out of which 23 were of bullish trend) and a total growth of 0.1616$ 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.
BINANCE:IOTAUSD
by ReadBTC
IOTAUSD - 1D Chart Analysis The end of the year has represented a good period for Iota, with it's price increasing from 0.2506$ on the 17th of December to 0.3726$ on the 10th of January, registering a total growth of 48.63%. Although the odds were looking favorable, the coin was pressured afterwards by the drop of the market capitalization, with the investors being concerned more about the stock market earnings season. In other words, once the bearish trend on a 1D chart was settled on the 10th of January, we could see a period in which the price evolution was slow and inconsistent, followed by 6 consecutive days of losses (including today) caused mainly by the very low trading volumes. And even if the RSI and the Stochastic are close to their "oversold" levels, the MACD is still below the Signal, meaning that it's possible that the price to slow down for a couple of days and then to drop again. Considering also that in the following days we'll have companies like Apple, Pfizer, Verizon and other big names coming up with their financial results, it's possible for the total market capitalization to continue it's negative rally and also for the price of Iota to go towards 0.2050$. The save up may come from the FED if it will take a surprising decision on Wednesday, but the chances are fairly small.
BINANCE:IOTAUSD
by ReadBTC
IOTAUSD - 1D Chart AnalysisIota is also one of the crypto currencies which has the price in the "middle" and like the rest, it's price has dropped starting with the 13th of November being influenced by the massive decrease of the market capitalization and since then it has started a sideways movement. At this stage, it is traded below the Pivot Level (average price) for 1 week and as long as the trading volumes will remain the same, the chances to see a big change in the price movement are quite low. From the technical perspective, the Stochastic is very close to the level of 20 but the %K (blue line) seems to be about to cross the %D (red line), indicating a slight drop of the price. On the other hand, the RSI is 29 and it's position is indicating a possible increase of the price, confirmed as well by the MACD as long as the latter has just crossed the Signal. Having this contradiction between the technical indicators we can expect another short period of time in which the price has big chances to move sideways, close to the Pivot's value. If the trading volumes will remain at the same level, the awaited "correction" of the price can last longer and a possible target price can be 0.2059$.
BINANCE:IOTAUSD
by ReadBTC