The price of IOTA underwent a correction as predicted in our last forecast! Will it bounce up now?
IOTA Price Forecast – Price target reached, both golden ratios broken!
After IOTA’s price was able to break the golden ratio at ±$0.266, it rose up to the next golden ratio at ±$0,37, which the IOTA price was also able to break. The price of IOTA shortly reached $0.44, with which the IOTA price was able to rise by 70% since the last forecast.
Now it seems like the IOTA price is about to begin a correction. Significant Fibonacci support will be waiting at ±$0.3 and ±$0.21, where the IOTA price could bounce strongly.
Should the IOTA price take up the upward trend again after the correction, important Fibonacci resistance will be waiting for it at ±$0.37, ±$1.12 and ±$1.76.
IOTA Price Forecast – Will the 50-Daily-EMA hold?
In the daily chart the 50-Daily-EMA is currently acting as support. The MACD is still developing bearishly, and the correction could hold on for a while. At $0.265 the 200-Daily-EMA will be waiting for IOTA, which could also serve as support.
The golden crossover is still intact, which confirms the trend to be bullish in the medium-term.
IOTA Price Forecast – bearish rejection at the golden ratio!
The IOTA price seems to have gotten bearishly rejected at the golden ratio at ±$0.37 in the monthly chart, because the last monthly candle closed under this level. The development of the IOTA price will be crucial this month, since it will decide if the IOTA price can break the golden ratio at ±$0.37 or if it will fail to do so.
IOTA Price Forecast – massive bullish divergence dissolved?
The IOTA price saw a bearish rejection against Bitcoin at the 0.382 Fib level at ±0.00003474 BTC. Should the support at ±0.00002898 BTC fail, the IOTA price could return to the golden ratio at 0.00002367 BTC. Should this level break too, very strong horizontal support would wait for IOTA at ±0.00002033 BTC, which would function as the last resort for IOTA. Because once broken, no further support levels exists.
Best Regards and successful trades
Konstantin
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