- IOTA Price made a cup and handle pattern on the line chart
- IOTA price surged 36% post giving breakout from the handle
IOTA Coin Price gave an upside of 36% within twelve days post, giving a breakout from the handle of the cup and handle pattern. As per the principle, the asset can move upward with the same length of the cup; thus, the target can be set at $0.519, which is coincidentally one of the highs on the charts. The 24 hour volume and market cap are $1,186,814,324 and $39,384,284 respectively.
IOTA Coin Price: Possible 18.6% Upside
IOTA (MIOTA) Coin made a cup and handle pattern after getting a rejection from $0.43. The pattern took approximately six months. The coin is currently facing resistance at $0.43 but made a green hammer candle, which is a sign of a bullish trend.
The Bollinger bands are headed upward, providing resistance at $0.465(Upper BB) and supports at $0.409(BB Base) and $0.3522(lower BB). Meanwhile, the VWAP is $04213, which is another support for the coin currently.
The stochastic is a bit indecisiveness for the trend since the signal line has crossed down from the slow line apparently, but in contrast to that, there isn’t any selling signal triggered by price action.
The RSI is sideways currently at 64 levels, but the immediate resistance is at 75 levels only. The support is at 60 levels.
MACD(8,21,5); the signal line and slow line were earlier making divergence. Currently, the signal line is heading down towards the slow line; a crossover can initiate a correction, while a rebound can take the coin further up.
The ADX line is at 31-32 levels suggesting a strong trend. Also, DI+ and DI- are at 23.26 and 14.04, offering weak bulls and comparatively stronger bulls in the coin.
Conclusion –
IOTA coin price has reached the top of $0.43 again; a sustained trend can push it further towards the target of $0.51, one of the previous highs and a target set from the cup and handle pattern.
Support: $0.42(VWAP) and 0.409(BB Base)
Resistance: $0.4319(horizontal resistance) and 0.51