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The IOTA rate has increased by more than 130 percent since it bottomed in March. Where is the Iota course going now?
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In the last forecast for the Iota course on April 1, when the Iota course was $ 0.1435, we wrote:
“A massive bullish divergence has formed in the RSI during the week. However, the IOTA rate currently has horizontal resistance between $ 0.14 and $ 0.165 to fight Reminder: what can be a support in the monthly course can be a resistance in the weekly course. After all, the IOTA course has not broken this level in the weekly course yet. If you break this level, find between $ 0.2 and $ 0.24 again significant Resistance.“
IOTA price forecast: macro downtrend!
The IOTA course reached an absolute minimum because the IOTA course reached in mid-March $ 0.076, The lowest point in IOTA history since it was traded on Bitfinex. Before that, the course is in the Gold ratio it was rejected, exactly on the long-term trend line, followed by a sell-off. Here you can see that IOTA remains bearish on the macro trend.
But there is positive news: it appears in the monthly rate horizontal Support for between $ 0.14 and $ 0.165 to hold
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IOTA price forecast: bullish divergence!
A massive bullish divergence had formed in the RSI during the week, whereby the IOTA price could break the resistance between $ 0.14 and $ 0.165. Now there is another resistance at the 0.382 Fib level at $ 0.1884 awaiting the IOTA course. If Iota’s price can break through this level, the next horizontal resistance is waiting for IOTA between $ 0.205 – $ 0.24, and the golden ratio at $ 0.26, which will also drop at the 50-week EMA.
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IOTA course forecast: on the way to the Fib level!
At the daily rate, EMAs still cross bearishly because the death cross is intact. After all, the 50-day EMA has already broken bullish, and the 200-day EMA is within horizontal resistance between $ 0.02 – $ 0.24. The RSI has not yet reached any overbought region, so there is still room for improvement.
Although the macro trend is down, IOTA could continue its upward trend in the short term. The golden ratio forms the key resistance that must be broken for the IOTA trend to turn bullish in the medium term as well.
IOTA course forecast: resistance ahead!
Against Bitcoin, the IOTA course must Resistance between 0.00002325 BTC and 0.00002738 BTC rest then lies again Resistance between 0.00004 BTC and 0.000043 BTC. Although the IOTA course looks like a downed partner that can no longer be saved, a bullish divergence in the RSI has formed in the weekly course. Overall, this lateral movement during the RSI strongly resembles a kind of bottom formation. So it could well be that the IOTA price could expect massive upside movements.
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