IOTUSD trade ideas
IOTA Bullish Crossover of MA at Midnight. #IOTAUSDFollowing on from my last idea early today, "A Look at Iota on 2hr candle" we can see that the idea is playing out nicely so far.
We can now also see that a bullish crossover is going to happen at midnight. This should kick off the weekend with a bang for iota.
I expect to see iota start moving up to $0.5 over the weekend.
IOTA dead or will the Jaguar (Land Rover) roar back to life?IOTA eyes 2x gains with potentially more to follow.
Technicals
IOTA down 90% + in brutal bear market.
USD chart looks to be in deep accumulation range $0.2 - $0.4.
BTC chart is super oversold on the weekly with bullish divergence on the daily RSI.
Fundamentals
Directed Acyclic Graph (DAG) technology is a big differentiator in a crowded space.
Internet of Things (IOT) space set for huge growth.
IOTA had a lot of hype 2 years ago and rose to great heights in flurry speculation.
Since falling it seems to have found a base vs USD and is ranging in a ranging zone.
Expecting a bounce, if IOTA is able to blast through all major daily moving averages it should reach around 8000 sats / 52.5 cents for up to 100% gains.
If the crypto market remains bullish continuation would target 13000 sats / $1.
Possible plays:
1. Buy in the accumulation zone (aggressive)
2. Buy a daily close above $0.325 (200d EMA) (moderate)
3. Buy a breakout on decent volume of the accumulation zone at $0.40 (conservative)
IOTA it trying to break upwardsIOTA is building momentum to push higher. Currently at RSI resitance. A breakout above that RSI level would bring price to $1.07 dollars. 100 DMA will not offer much resistance as the momentum is strong. Sell at resistance and buy back lower. If you are short and IOTA breaks above 1.2 then target would shift towards $1.55 (50 week MA) to $1.65 (23.6 retracement).