💡 Don't miss the great buy opportunity in IOTAUSDTTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.401). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . IOTAUSDT is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 52. Take Profits: TP1= @ 1.5730 TP2= @ 1.6660 TP3= @ 1.7470 TP4= @ 1.9650 TP5= @ 2.2070 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️Longby ForecastCity_ME3
IOTA/USDT Head & Shoulder Formation- IOTA/USDT after a good rally, now at the top its forming Head & Shoulder pattern. - This kind of pattern is normally formed on the TOP of the market after a rally. - Wait for the Price Action when it touches the NeckLine of the pattern. - Breakdown with volume will confirm that the down move or correction started. Target for downside = Height of HeadShortby Chartist_micro2
IOTA / USD Price Analysis: Free Fall AvertedIOTA / USD Short-term price analysis In the short-term, IOTA has a bearish trading bias with the cryptocurrency trading below its 200-period moving average on the four-hour time frame. The four-hour time frame is showing a large head and shoulders pattern, with the IOTA / USD pair recently staging a strong recovery from the neckline of the bearish pattern. Technical indicators are still turning higher on the four-hour time frame and continue to signal further near-term gains. Pattern Watch Traders should note the IOTA / USD pair could fall to a new all-time trading low if the bearish head and shoulders pattern on the four-hour time frame is triggered. Relative Strength Index The RSI indicator on the four-hour time frame is bullish, although it is now approaching overbought conditions. MACD Indicator The MACD indicator on the four-hour time frame has turned bullish and is issuing a strong buy signal. Fundamental Analysis IOTA surged after the announcement that Jaguar Land Rover, Britain’s largest auto manufacturer, is testing software that will allow drivers to share their vehicle data in exchange for IOTA. IOTA / USD Medium-term price analysis IOTA has a neutral medium-term trading outlook, with the cryptocurrency testing back towards its trend-defining 200-day moving average. The daily time frame shows that the bullish inverted head and shoulders pattern has been invalidated by the recent decline. The daily chart is also showing that the IOTA / USD pair has now moved back into range bound trading conditions. Technical indicators on the daily time frame are attempting to recover following the recent heavy sell-off. IOTA / USD Daily Chart by TradingView Pattern Watch Traders should note that the next direction breakout will take place once the IOTA / USD pair breaks out from the horizontal price chart on the daily time frame. Relative Strength Index The RSI indicator is attempting recovery above neutral following the recent bearish sell-off. MACD Indicator The MACD indicator on the daily time frame is neutral, although bullish pressures are building as the recovery gathers pace. Fundamental Analysis IOTA has been around since 2015 and is still trying to offer something viable to the market. The medium-term prospects for the project will depend on its ability to go beyond pilots and find partners that will start to use its platform. Conclusion The balance of risk has now shifted to the downside for the IOTA / USD in the short-term, with the buyers now needing to negate the bearish pattern on the four-hour time frame. The medium outlook for the cryptocurrency is less certain until a confirmed technical breakout has occurred from the horizontal price channel that has been in play since the start of the year.by CryptoBriefingTA0