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IOTA – ALTCOIN CHART ANALYSIS

 


At IOTA, the picture looks a bit more bullish and we were able to break out of our ascending triangle or downtrend and are now seeing a first confirmation.


We are currently trading at around USD 0.31 and are thus confirming the former resistance as support. At its peak, IOTA was able to rise to just under USD 0.35, but this was the next resistance.


So this zone, in which we are right now, is very important. If this breaks, we could see another sell-off towards $0.28. If the support holds, we could start an uptrend and the first target would be the $0.35 area.


In the IOTA/BTC daily chart it looks much more bullish. Here we are currently consolidating in an ascending triangle and we are attempting to break out of it to the upside.


We are currently trading at around 0.000014 BTC and were last rejected at the monthly resistance R1. However, we have to break through this upwards and then confirm it if necessary.


Then we have the chance to start outperforming Bitcoin with IOTA. First technical price target is around 0.000016. Here comes the first major resistance.

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