IOTA Price Analysis: IOT/USD about to chart Golden Cross

• SMA 50 and SMA 20 are about to crossover with the SMA 200 curve.
• IOT/USD went down from $0.415 to $0.414.

IOT/USD went up from $0.415 to $0.414 this Friday. On Thursday, bulls took the price up to $0.44, however, the bears then entered the market and plummeted IOT/USD down to $0.405. IOT/USD finished at $0.415. During the early hours of Friday, IOT/USD went up to $0.423 before the bears took the price down to $0.414.

IOT/USD Daily Chart

• The widening of the jaw of the 20-day Bollinger band indicates increasing market volatility.
• The four latest sessions are all above the upper curve of the Bollinger band.
• The SMA 50 is about to crossover with the SMA 200 curve to chart the Golden Cross pattern, which is a bullish sign.
• The SMA 20 curve is also going to crossover with the SMA 50 and SMA 200 curves, which is another bullish sign.
• The signal line is diverging away from the MACD line, indicating higher bullish momentum.
• The Elliot Wave Oscillator has had seven consecutive bullish sessions.
• The relative strength index (RSI) indicator is creeping at the edge of the overbought zone.