IOST "breaks bearish Channel"
IOST "Bearish Channel"
IOST has been trading on downside for pas few months and for now it placed in the bearish channel.so If it succeeds in breaking out bearish channel it more likely it will hit 0.019 level and then is target as mentioned on the chart.before reaching the mentioned target,i expect a small rejection at upper channel line.
However we must be waiting to see more action.
Also we should mention that the Channel has been combined with bullish divergence in the daily RSI. The RSI has now moved above 50, in what is considered another bullish sign.
IOST has been trading on downside for pas few months and for now it placed in the bearish channel.so If it succeeds in breaking out bearish channel it more likely it will hit 0.019 level and then is target as mentioned on the chart.before reaching the mentioned target,i expect a small rejection at upper channel line.
However we must be waiting to see more action.
Also we should mention that the Channel has been combined with bullish divergence in the daily RSI. The RSI has now moved above 50, in what is considered another bullish sign.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.