Скачать или смотреть IOTA Technical Analysis | IOTA Price Prediction -Cryptoknowmics

Welcome Back to #Cryptoknowmics!!
We are here yet again to enlighten you with predictions from the #Crypto community!!
And today we present to you a technical analysis video on the IOTA Token!
#IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions.
The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
The live IOTA token price today is $1.12 with an intraday trading volume of $77,211,924. The coin price is up by 4.46% in the last 24 hours. With a live market cap of $3.12 Billion, the coin ranks in the Top 50 Cryptocurrency in the world.
The IOTA coin price shows a reversal of the short-term retracement of 30% in the last week. The price action forms a morning star pattern in the daily chart near the support level at $1. Therefore, a bullish reversal to the resistance trendline is possible in the next few days.
Let’s have a deepened insight into the technical analysis of IOTA Token and see what the indicators have to say about it.
The IOTA coin price seems to have overcome the short-term downtrend with the reversal near $1. Moreover, the price action showcases the possibility of a bullish reversal within the descending triangle pattern. Moreover, the reversal comes as the altcoins gain slight bullish momentum after the bloodbath. That is why the reversal increases the chances of a bullish breakout is high.
The price action indicates resistance at $1.5 and $1.80 above the resistance trendline. The support levels are at $0.80 and $0.60 below $1.
The RSI indicator at 40% shows the slope moving sideways in the nearly oversold zone after the downfall in the bloodbath. However, the stabilizing slope increases the chances of a bullish continuation as it neutralizes the bearishness gradually.
The Stochastic RSI indicator shows the K and D line giving a bullish crossover in the oversold zone. Therefore, the indicator shows high chances of a bullish continuation that can result in the trendline breakout.
In conclusion, the IOTA coin price action shows a bullish reversal within the triangle with the morning star pattern near $1. Therefore, a price jump to the resistance trendline is possible. Moreover, the chances of a breakout above the trendline are increasing as the trend gains momentum.
Therefore, traders can find buying opportunities at the current price and at the breakout of the resistance trendline.
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