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IOTA vs Bitcoin price prediction 2018

IOTA vs Bitcoin price prediction 2018
Viktor KarapetjancViktor KarapetjancCrypto Post

IOTA has fond the bottom near 140k satoshis that is 76.4%. At first price went slightly lower, but eventually rejected the Fibonacci support together with the uptrend trendline. Price went up and on a corrective wave down rejected the 61.8% Fibonacci support together with the upper trendline of the descending channel.

All-in-all trend now is bullish and growth is likely to continue. The nearest resistance for IOT/BTC is around 420k satoshis, that is a potential double top. If price managed to break above, the next resistance and the key target is around 640k satoshis, which could be reached this year.

On a downside, IOTA could correct down to the 50 Moving average and even down to the 140k satoshis support, but only a break and close below 127k satoshis could invalidate bullish outlook.

Crypto

Author

Viktor Karapetjanc

Viktor is a Chief Editor, veteran currency trader. He started his trading career in 2001 when he began to study Forex and Binary options trading techniques. Not long after he became a trading systems engineer and algorithmic trading guru.

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