IOT/USD chart - Trading View
Exchange - Bitfinex
Support: 0.3213 (200-DMA); Resistance: 0.4081 (Jan 2nd high)
Technical Analysis: Bias Bullish
- IOTA is holding gains of over 5% for the day, trading at 0.3959 at 0645 GMT
- IOT/USD price action has shown a decisive break above 200-DMA, scope for further upside
- The pair is trading above 200-DMA for the 1st time since May 2018, Technical studies are bullish
- Stochs and RSI are sharply higher. MACD and DMI support upside, volatility is rising
- GMMA however has not shown a shift in the trend, possibility of retrace lurks
- We see immediate resistance at 0.4081, break above could see gains till 0.51 mark
- Retrace below 200-DMA could negate the bullish bias. Test of 0.24 (trendline support) likely
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
