IOTAUSD - 1D Chart Analysis
Like for the rest of the coins, the price of Iota has also started to slow down it's daily movement average based on a lower trading volume.The actual sideways movement has started on the 6th of September and it doesn't seem to be over as long as there are no strong fundamentals yet. On a very short period of time, as long as the price will stay above 0.5638$ (Pivot Level), the next possible targets are 0.5844$ (Resistance Level 1) and 0.6232$ (Resistance Level 2) in extension.
This first scenario is supported by Stochastic which is indicating that the trend may continue, by the MACD line which is still above the Signal one and it can be confirmed by the Bollinger Bands as well. The opening price of the current candlestick it's higher than the 20 days Moving Average and if the closing price of it will be bigger than 0.5727$, we'll get the confirmation we are looking for.
On the other hand, if the price will fail to end up the day higher than 0.5727$ and it will also cross the Pivot Level, the next possible targets are 0.5456$ (Support Level 1) and 0.5250$ (Support Level 2) in extension.
This first scenario is supported by Stochastic which is indicating that the trend may continue, by the MACD line which is still above the Signal one and it can be confirmed by the Bollinger Bands as well. The opening price of the current candlestick it's higher than the 20 days Moving Average and if the closing price of it will be bigger than 0.5727$, we'll get the confirmation we are looking for.
On the other hand, if the price will fail to end up the day higher than 0.5727$ and it will also cross the Pivot Level, the next possible targets are 0.5456$ (Support Level 1) and 0.5250$ (Support Level 2) in extension.
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