![]() Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. If this scenario happens, sellers could target the $1.00 level and then recent lows at $0.88. This move could see extended sideways trading near $1.10, with failure to rebound attracting bears. On the downside, IOTA/USD will turn negative if it breaks below the trend line support. Above this, an increase in buying activity could push IOTA’s price towards $1.42 (0.236 Fib level) before another leg up brings recent highs of $1.59 into focus. The pair is also above a descending trend line that formed a previous wedge pattern.Īlthough the breakout from the pattern has not been explosive, a steady grind above immediate resistance at $1.23 (0.5 Fib level) could allow bulls to aim for $1.32 (0.382 Fib level). On the 4-hour chart, IOTA/USD is trading above the 20-day EMA ($1.17) and 50-day EMA ($1.18). ![]() IOTA/USD 4-hour price chart analysis IOTA/USD 4-hour chart. The RSI crucially remains above the middle line to suggest bulls have the upper hand. The bulls will likely battle a key horizontal barrier before they retest the $1.59 level.Īs well as the positive curve of the 20-day EMA, the 50-day EMA ($0.88) is also rising. If there’s a clear break above this supply wall, an upside flip could include taking prices past the 0.382 Fib level ($1.32) to the 0.236 Fib level ($1.43). This has allowed them to build upside momentum, which could see them break above overhead resistance and target a higher close.Īt the moment, buyers are looking to test resistance at the 0.5 Fibonacci retracement level at $1.24. The positive perspective on the daily chart is that bulls have kept prices above the 20-day EMA ($1.13). While the upside correction has staggered with multiple pullbacks, the technical outlook suggests buyers are likely to take command and push IOTA/USD towards the 19 February highs of $1.59. IOTA/USD is looking to stay above $1.10 after its sharp descent in the second half of February saw it dump from highs of $1.59 to lows of $0.88. IOTA/USD daily price chart analysis IOTA/USD daily chart. Further gains could push prices towards $1.59. ![]() The cryptocurrency’s price has broken out of a short-term descending wedge pattern to suggest a potential retest of prices near $1.40. IOTA is trading at $1.90 against the US dollar, up by about 5% in the past 24 hours. IOTA bulls are targeting a similar move, which is likely given a rebound up from lows of $1.02 reached on 28 February. Binance Coin, Polkadot, ChainLink and NEM have all posted notable gains, notching double-digit upsides in the past 48 hours. IOTA/USD breaks above $1.20 as bulls seek recovery from sharp pullback to $0.88Īn uptick in crypto sentiment has seen most altcoins looking to bounce off sharp corrections seen over the past week. ![]()
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