IOTA compared to Ether's May 2017 Rally
Updated
So, this is a completely new kind of analysis for me as I have never used the 'percent' option in the charts. I've seen posts where people have compared charts, but I can't figure out how to do so, so I apologize for the formatting. This also should not be taken as a prediction, merely a comparison of the two. In any case...
The top chart is, of course, IOTA. The one below is ETH's chart back in May of this year. I am actually unsure whether we are at the top of wave 3 or wave 5 for IOTA, so for comparison's sake will assume that it is currently at the top of its Wave 5.
Some very noticeable similarities between the two charts:
1. The rallies both took on roughly 150% gains between their second and third waves and 400% between their fourth and fifth. Both totaling 650%.
2. Wave 5 was the biggest leg. They both extended well beyond the 2.36 level .
3. The rallies both spanned roughly one month from the beginnning of wave 1 to the end of wave 5.
4. Ethereum's run was fueled heavily by news and announcements, the same currently goes for IOTA.
So, if IOTA's run is finished, we could expect a retracement back between .5 and .618. But what if we've only finished wave 3? Will IOTA see an even larger leap in its fifth wave? I sure hope so, but only time will tell. If so, we may see an ATH completely unprecedented. I don't want to even put a number on it at this point.
The one thing I do recommend is to hold if you are already holding, years if possible, and BTFD. This will likely be a huge contender for BCH's spot at number 3 and I don't doubt we will see even bigger gains in the long term.
Comments and critiques are of course welcome.
The top chart is, of course, IOTA. The one below is ETH's chart back in May of this year. I am actually unsure whether we are at the top of wave 3 or wave 5 for IOTA, so for comparison's sake will assume that it is currently at the top of its Wave 5.
Some very noticeable similarities between the two charts:
1. The rallies both took on roughly 150% gains between their second and third waves and 400% between their fourth and fifth. Both totaling 650%.
2. Wave 5 was the biggest leg. They both extended well beyond the 2.36 level .
3. The rallies both spanned roughly one month from the beginnning of wave 1 to the end of wave 5.
4. Ethereum's run was fueled heavily by news and announcements, the same currently goes for IOTA.
So, if IOTA's run is finished, we could expect a retracement back between .5 and .618. But what if we've only finished wave 3? Will IOTA see an even larger leap in its fifth wave? I sure hope so, but only time will tell. If so, we may see an ATH completely unprecedented. I don't want to even put a number on it at this point.
The one thing I do recommend is to hold if you are already holding, years if possible, and BTFD. This will likely be a huge contender for BCH's spot at number 3 and I don't doubt we will see even bigger gains in the long term.
Comments and critiques are of course welcome.
Note
Note
Correction: I said the waves went past the 2.36 line. I meant 2.236.
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