IOTA (MIOTA) Daily Price Forecast – October 29

2018-10-29 14:49

IOTA/USD Medium-term Trend: Ranging

Resistance Level: $0.56, $0.58, $0.60
Support Levels: $0.42, 0.40, $0.38

IOTA market has been serially under selling pressure as paired with the US dollar worth in the market within a range. The crypto very briefly surged northwards on October 25 toward around $0.508 and, the upper Bollinger Band and the 50-day SMA were breached as well.

The IOTA/USD lacked the force to continue on that advantage, hence the market began to retrace from the spot southwards to test a $0.469 support area on Oct. 27. Since then, the crypto has been ranging along with the lower Bollinger Band. The 50-day SMA is a bit above the middle Bollinger Band. The Stochastic Oscillators have crossed to point south within the 40 and 20 range boundaries. That gives a directive that bears are still not done in the market completely. Traders may join the market by entering a long position while price action is traded against the $0.48 lower range price level.

IOTA/USD Short-term Trend: Bearish


About a few days back, IOTA/USD market was largely experiencing a decline in its market valuation. The crypto had initially dropped slightly southwards past the $0.47 price levels on two occasions to face a strong support level below it.

Yesterday, the crypto strived to move northwards by majorly featuring lower highs that eventually pushed the market a bit over the upper Bollinger Band but below the 50-day SMA’s trend-line. Today, the crypto has got dropped serially to the tune of around $0.472 or thereabouts.

The 50-day SMA has cut slightly into the upper Bollinger Band from the top to find a location a bit above the middle Bollinger Band. Price has now been striving to push northward from the lower Bollinger Band. The Stochastic Oscillators have crossed to point north around range 20. Traders are now enjoined to get set for taking a long entry position while a bearish reversal is spotted in the market.

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute inancial advice. Always do your own research.

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iota market → Результатов: 78


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