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IOTA price analysis: Slow and steady wins the race

  • IOT bulls have momentum in their way as a back up.
  • Short term, medium term charts point some more gains.

IOT bulls have  a sweet problem to tackle – to hold on to the trendline support and keep riding the wave towars $2.00, psychologically important mark and continue the bullish momentum.

IOT/USD is up nearly a percent on Saturday at $1.9369, after bouncing sharply from day’s low of $1.903. On the short term 180-minute chart, IOT is trading in an upward sloping higher high, higher low trendline channel – a slow but steady sign of higher moves.

If that wasn’t enough, on the daily charts, fibonacci retracements of recent rise from April lows as well as the fall from May highs, both point that next levels of $2.01 could easily be trargeted in this upmove.

IOT/USD 180-minute chart:

IOT/USD daily chart:

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