Manoj B Rawal
Independent Analyst
- IOTA breaks out on short term chart.
- Long term too lends fibo support.
IOTA bulls have a golden opportunity to plunge on Tuesday's upmove and take prices to the sky as it breaks out of a short term resistance just as long term charts lend a supporting hand in the form of fibonacci retracement.
IOT/USD is currently up more than 1 percent on day at $1.96 and given up quite a bit from the day's high of $2.1000. IOTA broke the barrier of a descending trendline on the hourly chart and now on its way to test it again.
On the daily chart too, the price held on to the 38.2 percent retracement level for quite some time but eventually gave up and now it remains to be seen if it goes all the way to 50 percent mark, which is at $1.80.
IOT/USD 60-minute chart:
IOT/USD daily chart:
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