IOTAUSD - 1D Chart Analysis
After the market went through a hard period, it seems that we are assisting to a slight "come back", with Iota being one of the coins which are leading the recovery process.
The Stochastic's crossover on the 31st of October and the RSI's "oversold" position indicated these 3 consecutive days of growth but even if we had a price increase of 8.14%, the trend cannot be considered "Bullish" yet, as the price is still located between the 20 days Moving Average and the lower standard deviation of the Bollinger Bands.
On the other hand, MACD's Moving Averages have just intersected, showing a possible continuation of the uptrend with the first obstacle at the Pivot Level of 0.4891$.
* If this level will be broken, the next target price is the Resistance Level 1 of 0.5026$
* If the price will fail to broke the Pivot Level, the target price is 0.4662$
The Stochastic's crossover on the 31st of October and the RSI's "oversold" position indicated these 3 consecutive days of growth but even if we had a price increase of 8.14%, the trend cannot be considered "Bullish" yet, as the price is still located between the 20 days Moving Average and the lower standard deviation of the Bollinger Bands.
On the other hand, MACD's Moving Averages have just intersected, showing a possible continuation of the uptrend with the first obstacle at the Pivot Level of 0.4891$.
* If this level will be broken, the next target price is the Resistance Level 1 of 0.5026$
* If the price will fail to broke the Pivot Level, the target price is 0.4662$
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