Hey, I am back with another Technical Analysis, this time looking quickly at IOST!
I was looking at altcoins to trade and has find out that IOST token is sitting on a good known support level and has broken even below it.
Ussualy break below support level is not a good indication of bull action but, IOST is doing great job, good stability, low volume, good looking indicators, perfect risk/reward ratio, my type of trade!
A bit about Indicators.
MACD, histogram uptrend, is about to give buy signal and leave bearish side of MACD.
If IOST continue to see price above 180sats the buy signal will be given from MACD.
RSI is uptrending, got denied by a triple top, that may been the last bear move.
Buy - 176 sounds like a reasonable entry, 181 is fine too.
Sell - The Red Horizontal lines are representing ressistance levels, assume them as your profit take level slightly below a certain level, depending on your own strategy.
If you like this Technical Analysis, let me know by hitting that agree button, I really do appreciate each one as it motivates by spending more time on doing TA´s, Thanks a lot!
I was looking at altcoins to trade and has find out that IOST token is sitting on a good known support level and has broken even below it.
Ussualy break below support level is not a good indication of bull action but, IOST is doing great job, good stability, low volume, good looking indicators, perfect risk/reward ratio, my type of trade!
A bit about Indicators.
MACD, histogram uptrend, is about to give buy signal and leave bearish side of MACD.
If IOST continue to see price above 180sats the buy signal will be given from MACD.
RSI is uptrending, got denied by a triple top, that may been the last bear move.
Buy - 176 sounds like a reasonable entry, 181 is fine too.
Sell - The Red Horizontal lines are representing ressistance levels, assume them as your profit take level slightly below a certain level, depending on your own strategy.
If you like this Technical Analysis, let me know by hitting that agree button, I really do appreciate each one as it motivates by spending more time on doing TA´s, Thanks a lot!
Comment:
My buy of 180 was executed. My personal target is 210 or 16% if you will. RSI still in uptrend, daily macd buy signal, good looking candles.
Comment:
Core ressistance of 187 was broken, IOST is staying above it for a longer period of time. Two very bullish MACD slides, the pattern looks like an ascending triangle, but we have uptrend missing to be 100% sure of breaking upwards.