The IOTA course broke the 0.382 Fib level and could currently be on a recovery course!
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In the last IOTA course forecast of May 6th, when the IOTA course was $ 0.1864, we wrote:
“The IOTA course is currently between the 50-day EMA, which serves as support, and the resistance of the 0.382 Fib level at $ 0.1884. If IOTA can break the 0.382 Fib level, it will find between $ 0.205 – $ 0.2422 horizontal resistance, causing the 200-day EMA, which also acts as a resistance.
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As the RSI is already weakening, it could well be that the IOTA price will initially be rejected at the 0.382 Fib level and move between $ 0.14 – $ 0.1655 for support. If this horizontal support holds, the price could try again to break the 0.382 Fib level. ”
The IOTA price broke the $ 0.382 Fib level at $ 0.1884 and has now reached horizontal resistance between $ 0.205 – $ 0.2422. If the IOTA course is not rejected there but breaks bullishly, the IOTA course finds the golden ratio at just under $ 0.26, which also runs the 50-week EMA and acts as a resistance.
IOTA course forecast – on the 200-day EMA!
IOTA day course – tradingview
In the daily course, the IOTA course is currently between the 50-day and the 200-day EMA, with the 50-day EMA serving as support while the 200-day EMA acts as a resistance. Currently, it seems more likely that the IOTA rate will be rejected on the 200-day EMA and bearishly break through the 50-day EMA to return to the $ 0.14 – 0.165 support zone.
IOTA price forecast – 182% price increase and still the macro trend is bearish!
IOTA monthly course – tradingview
Despite a huge price increase of more than 180 percent since the last low a few weeks ago, IOTA’s macro trend is still extremely bearish. This could only change once the golden ratio breaks at $ 0.26.
IOTA course forecast – on resistance!
IOTA weekly course – trading view
Against Bitcoin, the IOTA course must resistance between 0.00002325 BTC and 0.00002738 BTC break to have the chance to initiate a bull trend. In addition, the IOTA course takes place again resistance between 0.00004 BTC and 0.000043 BTC. Although the IOTA rate is in a downward channel, a bullish divergence in the RSI is emerging in the weekly rate. Thus, the IOTA course could soon correct violently upwards.
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Best regards and successful trades
Constantine
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