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IOTA course could soon show strong volatility

 


The IOTA course has been moving sideways for a few days. Will high volatility follow soon?


IOTA course hit support and surged 70%

The IOTA course initially bounced off the support between USD 0.2 – 0.24 and rose 70%. However, the IOTA course then corrected for three days and then rose again for three days. Today the IOTA course seems to end its upward movement. With that, IOTA would form a lower high, bringing a drop to $0.2 – $0.24 closer. However, if the IOTA price continues to rise, it will find significant Fib resistance at the USD 0.5 mark.


The MACD is showing bullish on the daily chart as the histogram is ticking bullishly higher while the MACD lines remain bullish crossovers. The death cross, on the other hand, remains in place, confirming the trend bearishly in the short to medium term.


Is the IOTA course going for the bearish or bullish scenario?

So far, the IOTA price has been able to stay above the support between USD 0.2 – 0.24, which is a bullish sign. In particular, the strong bounce of around 70% is bullish. Nevertheless, the IOTA course is currently weakening.


Overall, IOTA has two options: if the IOTA price stays above the support between USD 0.2 - 0.24, it could rise to around USD 0.5 or even around USD 0.7. There IOTA encounters significant Fibonacci resistance.


However, if IOTA breaks the bearish support between USD 0.2 – 0.24, IOTA will only find significant support again between USD 0.075 – 0.123.


On the weekly chart, the MACD lines are still crossed bearishly, however the histogram is ticking bullishly higher this week.


IOTA course far from a bull cycle

The monthly chart shows that IOTA is still far from a bull cycle. Because for this IOTA would have to break the Fib resistances at around USD 1.15 and USD 1.75. In addition, the monthly MACD is clearly bearish.


Should IOTA break the support between USD 0.2 – 0.24, there is still horizontal support on the IOTA course between USD 0.145 – 0.16 before IOTA could correct between USD 0.075 – 0.123.


Against BTC, IOTA bounces off support

Against BTC, IOTA bounces off the support between 0.000008 – 0.00001 BTC. If IOTA continues its upward movement, important Fibonacci resistances await around 0.000018 BTC and 0.0000235 BTC.


Also, the MACD histogram is ticking bullishly higher this week. However, the MACD lines remain a bearish crossover. Should the histogram still close bullishly this week, this would be a first indication of a possible price increase to around 0.000018 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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