IOTA Price Analysis: IOT/USD bulls take control, breaks above SMA 20
- IOT/USD went up from $0.1413 to $0.145 this Thursday.
- The Elliott Oscillator has had 11 consecutive green sessions showing that the buyers have full control of the market.
IOT/USD daily chart
IOT/USD bulls retained control of the market as the price consolidates in a triangle formation. IOT/USD has gone up from $0.145 to $0.1476 in the early hours of Friday, following a bullish Thursday wherein the price rose from $0.1413 to $0.145. IOT/USD has managed to break past the resistance at the SMA 20 curve but is still hovering comfortably below the green Ichimoku cloud. The MACD indicates increasing bullish momentum, while the RSI is hovering around 45.20. The Elliott Oscillator has had 11 consecutive green sessions showing that the buyers have full control of the market.
Key Levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
