IOStoken Uptrend is Far From OverIOStoken bottomed out near $0.016, after which the uptrend begun. Price broke above the 50 Moving Average as well as the downtrend trendline. IOST/USD continues to steadily climb up while rejecting the uptrend trendline.
Fibonacci applied to the first corrective wave down after the breakout of the Moving Average shows that IOStoken has rejected 227.2% level, where it found the support. The following wave up resulted in rejection of the 427.2% Fibs resistance, however just recently price broke above, suggesting the continuation of the uptrend.
There are multiple resistance levels to watch, however the key resistance is based at 1227.2% Fibonacci retracement level, that is $0.159. Statistically coins upside targets tend to be in increments of 10 from the bottom. As the bottom has been found at $0.016, multiplied that by 10 would make it $0.16, which is perfectly inline with the final upside target.
On a downside, the correction down would be quite normal and should be expected. The nearest support is at $0.68 where IOST/USD could retrace. Break below that level could send price slightly lower before uptrend continuation would take place. But in any case, strong downtrend establishment have very low probability at this point.
IOSTUSD trade ideas
Ascending ChannelExpect a bounce off the support later this week, then looking for a breakout past resistance.
IOSUSDTIt break the previous support and hit the bottom at 0.016, it's rebound and I think it's a buying time. (I am open to correction.)
HOPE FOR A GOOD CONTINTUATIONIf it plays out, you could invest in it already... while BTC is stagnant, this could play out.
If it is resistant like ONT, for sure... it is of-course a guess !
Depends of the interest of the people and the seriousness of the first investors/hodlers
A coin in the make like Ontology ?A coin which already made 2.5 X in 20 days... and just started it's real uptrend.
Could this be a duplication of a succesful running up like ONT (Ontology) ?
Hope so !
IOST Breakout using INVERTEd HnS Impulse! Just the beginning! Spike in volume confirmed the inverted Head and shoulders pattern, what is next is a break out from this weeks old descending bullish pennant. GET ON in time ! I'm yet to establish target for the long term but this is a great ground floor opportunity IMHO. All the best, love Captan Furry
