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Iota Price Analysis: IOT/USD currently negotiating with the $0.165 resistance line

FX Street
Published date:
  • IOT/USD went up from $0.16 to $0.164 this Thursday.
  • The Elliott Oscillator has had nine straight red sessions of increasing intensity.

IOT/USD daily chart

IOT/USD daily chart

This Thursday, IOT/USD went up from $0.16 to $0.164 and has gone back down to the $0.16-level this Friday. The price is trending within a triangular pattern and hovering below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Eliott Oscillator has had nine straight red sessions of increasing intensity while Moving Average Convergence/Divergence (MACD) indicates increasing bearish momentum. The Relative Strength Index (RSI) is trending around 27 within the oversold zone,  so an upcoming bullish correction maybe expected.
 

FX Street

FX Street

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