IOTA Price Analysis: IOT/USD bulls take control, breaks above SMA 20

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  • IOT/USD went up from $0.1413 to $0.145 this Thursday.
  • The Elliott Oscillator has had 11 consecutive green sessions showing that the buyers have full control of the market.

IOT/USD daily chart

IOT/USD daily chart

IOT/USD bulls retained control of the market as the price consolidates in a triangle formation. IOT/USD has gone up from $0.145 to $0.1476 in the early hours of Friday, following a bullish Thursday wherein the price rose from $0.1413 to $0.145. IOT/USD has managed to break past the resistance at the SMA 20 curve but is still hovering comfortably below the green Ichimoku cloud. The MACD indicates increasing bullish momentum, while the RSI is hovering around 45.20. The Elliott Oscillator has had 11 consecutive green sessions showing that the buyers have full control of the market.

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