IOTA price analysis: No it hasn't yet broken out
|- Crossover visible on long term charts.
- Confirmations pending before the trend can change.
IOTA prices show signs of breaking out on the long term charts, but it is still not confirmed as the crossover has happened but confirmations are still few places away. Even on the short term charts, there's a breakout visible but without confirmations.
IOT/USD is down about a percent at $0.99, just below psychologically important mark of $1.00. On the daly chart IOT crossed and closed above the descending trendline on Saturday, but just the crossover wouldn't yet be termed as a breakout until it manages to cross past important resistance marks of $1.18-$1.26.
On the short term 30-minute chart too it has broken out but confirmations would occur on the successful crossover of $1.03-$1.07 range for the short term trend to remain up.
IOT/USD daily chart:
IOT/USD 30-minute chart:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.