IOTA Analysis 7/16 IOTA-USD

IOTA / USD has completed the lower target range projection with the target price of $0.92, which was given in the previous analysis, very accurately. The low was close to $0.88. There IOTA found support from the buyers, so that a double bottom could establish itself.

A first counter-movement brought the price up to the region $1.20. If the bottom should hold, I currently see rising prices for IOTA again.

The first goal would be to overcome the short-term downward trend of May 2018, which could happen this week. Next, the zone around $1.31 - 1.35 represents a greater resistance.

Only after overcoming this range, it makes more sense to look around for long positions. Not before!

This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!

Cheers Jessy