IOTA Price Analysis: EMA-10 has got serious potential!

  • The coin with respect to USD is expected to begin an uptrend. The IOTA/BTC is 0.00002750
  • One day and five days volatility in percentage is 5.14 and 17.10 respectively.
  • The percentage change in price is 4.24 in the last 24 hours and MA-5, 20 and 50 has negative price change.

The start for the day of IOTA was below the EMA-30 and well below EMA-100. The coin has however struggled hard and successfully crossed the resistance offered by these two EMA’s at the time of writing this. The day’s high was marked at 1.707 and low of 1.10 and the current price is at the level of 1.128. EMA-30 has been a tough challenge for EMA-10 this whole morning. The coin has provided a return in the last 24 hours of 4.27%. Pivot point is 1.0648 and RSI is 42.869 suggesting to sell as an action.

The past five days can be seen as the mixed days for IOTA. The moving of EMA-10 below the EMA-30 has really sunken the price to the low of 1.01. The chart-2 shows the rectangle where the EMA-10 was moving far below than the EMA-100 and how it suddenly recovered just after the low was hit. The circle shows that the extreme rare wicks were formed that have formed the high of 1.27.

For the day ahead, IOTA is going to show a raise in its price. The uptrend is about to start as it is almost near its first resistance level of 1.14 and even the EMA-10 is above its average 100 days exponential. For the intraday traders, the RSI level for the last 15 mins is 42 suggesting SELL and even the moving averages tell the same. Bull/Bear power is negative 0.0144 shows the SELL either.

Chart-1

The above chart is for the day of Monday and the movement of EMA-10 is parallel with EMA-30 mostly. The coin has the tendency of keeping its pace with other two EMA’s and so have crossed them timely. 

https://s3.tradingview.com/snapshots/5/5bFXXNJ4.png

Chart-2

The above chart is for the last five days, it shows the movement of 3 EMA’s that made some serious high wicks as soon as the EMA-10 crossed 30 and 100 and it has been marked with a circle.

Chart-3

The above chart depicts the movement for the day ahead and the trend is assumed to be bullish from the noon time. The resistance and support levels are marked and it is assumed that the price will not sink more than 1.11 till tomorrow morning.

Conclusion: The coin has got potential within and the holders have total faith in it so if the traders are looking for some long term investment coin, IOTA it is. The traders can earn decent profit in medium term time span either. However the coin has proven wealthy for the intraday traders too.

Technical Instruments:

R-1: 1.13

R-2: 1.15

S-1: 1.10

S-2:  1.11

(Note- The unit use is USD)

This news is republished from another source. You can check the original article here

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