Quick TA on IOTA
Indicators:
DI crossover signalling trend reversal
MACD crossover as well
Stochastic trailing behind
Primary focus would be strong volume and breakout to the upside from the inverse H&S neckline.
Look out for ADX momentum to come in (>25) as well as Stoch above 80. Volume is still weak so it will take sustained volume to keep price momentum upwards.
At the moment, still seems like a fakeout is possible and just a completion of an inverse Elliot Wave. If indeed a breakout occurs, the 200MA (in red) would serve as the strongest resistance.
Indicators:
DI crossover signalling trend reversal
MACD crossover as well
Stochastic trailing behind
Primary focus would be strong volume and breakout to the upside from the inverse H&S neckline.
Look out for ADX momentum to come in (>25) as well as Stoch above 80. Volume is still weak so it will take sustained volume to keep price momentum upwards.
At the moment, still seems like a fakeout is possible and just a completion of an inverse Elliot Wave. If indeed a breakout occurs, the 200MA (in red) would serve as the strongest resistance.