IOTAUSD - 1D Chart Analysis
After a sideways movement that started on the 6th of September, the price is getting close for the 5th time this month to the the Support Level of 0.5238$ where it had difficulties in advancing towards lower values on the previous 4 attempts.
With the RSI on neutral position and with the Stochastic indicating that the price will register lower values, the bearish trend can be confirmed by the price at the end of the day. If the latter will finish the day lower than 0.5574$, it will create a red candlestick below the 20 days Moving Average and the possible targets are :
* 0.5091$ - the lower band of Bollinger
* 0.4384$ - level which wasn't reached since the 16th of August
On the other hand, of the price will reach the Support Level of 0.5238$ and it will fail one more time to break it, then the possible targets will become :
* 0.5849$ - Resistance Level 1
* 0.6681$ - Resistance Level 2
With the RSI on neutral position and with the Stochastic indicating that the price will register lower values, the bearish trend can be confirmed by the price at the end of the day. If the latter will finish the day lower than 0.5574$, it will create a red candlestick below the 20 days Moving Average and the possible targets are :
* 0.5091$ - the lower band of Bollinger
* 0.4384$ - level which wasn't reached since the 16th of August
On the other hand, of the price will reach the Support Level of 0.5238$ and it will fail one more time to break it, then the possible targets will become :
* 0.5849$ - Resistance Level 1
* 0.6681$ - Resistance Level 2
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