IOTA (IOTUSD) Analysis and Forecast (Fri, Sept 14th, 2018): More signals awaited

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IOTA continues its upward movement to $6434; no clear signals for further direction.

On Wednesday, IOTA formed its record low of $0.5 then was moving in an upward channel till it reached the high of $0.6175. The support level of $0.5869 was surpassed and seemed to be turned into a resistance level.

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IOTA (IOTUSD) H4 chart on September 14th, 2018

Overall, IOTA has been inching up to the 38.2% Fibonacci retracement level ($0.6434) as anticipated. The MACD Indicator (Moving Average Convergence Divergence) presents that the two MA lines have been sticking together for quite some time, while the histogram has been printing smaller bars. We are waiting for the signal that the MACD line (the blue one) crosses over the Signal line (the red one) from below, and the histogram flips to the upside. By this, a reversal to uptrend is nearly confirmed.

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IOTA (IOTUSD) D1 chart on September 14th, 2018

Written by nami.today

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