https://www.tradingview.com/chart/X8yaAewV/
A Retrospective of the Last Run up from the Lowest Support Level:
March 18 186 sats RSI 13
March 21 EMA 7 crosses EMA 25 on the highest bull volume since Binance listed it in Jan
7 Period EMA as Support from March 21 till May 12 when we closed below it after topping out on the 10th of May at 845 sats.
Inside bar bear break with 3 days of downside was probably the first major warning a trend change was about to happen...
Second inside bar bear break on May 14th leading to what has basically been a downtrend ever since aside from a few nice bounces on the way down.
iOST is one I have been watching a lot lately because it has broken below the lowest support level it had established since Binance listed it in late January. From a fundamental analysis perspective it looks like a decent project with potential, but seeing that it had fallen below the March low of 186 sats to hit 163 sats on sep 12th was interesting and alarming. Just judging from previous years we know that not all coins will survive even if they have good ideas. Will iOST be one of them?
In March the RSI was 13, the September low saw the RSI at 36 which left plenty of room for further downside. Double bottom at 173 sats on the 11th and 12 of October respectively. While we've been printing higher lows and lower highs for the last 9 days we still remain trapped between the 7 and 25 period EMAS on the daily and perilously close to the old and new lows. Should BTC see downside to the 6k level or below I expect iOST to test the Sep 12th lows and perhaps even fall further. Below 163 sats there is no support. If I were a gambler and wanted to short, this is one to watch, as we are on the edge of a precipice in a bear market. ANYTHING under 210 sats is just a lower high.
Despite my bearish sentiments regarding this project at the moment on the flip side should BTC break bull and spark a market wide rally this could be a good place to accumulate, and resistance will be at 210, 226 and 255 sats. In my opinion this is a high risk altcoin for bulls right now, but very high reward should the market as a whole turn bull.
I put the retrospective up there in order to see if there were any patterns from the last run up that could give clues for the next possible run.
Thanks for checking in. I hope there is something of use in here. Remember I am NOT an expert, I'm just a random dude on Trading View
A Retrospective of the Last Run up from the Lowest Support Level:
March 18 186 sats RSI 13
March 21 EMA 7 crosses EMA 25 on the highest bull volume since Binance listed it in Jan
7 Period EMA as Support from March 21 till May 12 when we closed below it after topping out on the 10th of May at 845 sats.
Inside bar bear break with 3 days of downside was probably the first major warning a trend change was about to happen...
Second inside bar bear break on May 14th leading to what has basically been a downtrend ever since aside from a few nice bounces on the way down.
iOST is one I have been watching a lot lately because it has broken below the lowest support level it had established since Binance listed it in late January. From a fundamental analysis perspective it looks like a decent project with potential, but seeing that it had fallen below the March low of 186 sats to hit 163 sats on sep 12th was interesting and alarming. Just judging from previous years we know that not all coins will survive even if they have good ideas. Will iOST be one of them?
In March the RSI was 13, the September low saw the RSI at 36 which left plenty of room for further downside. Double bottom at 173 sats on the 11th and 12 of October respectively. While we've been printing higher lows and lower highs for the last 9 days we still remain trapped between the 7 and 25 period EMAS on the daily and perilously close to the old and new lows. Should BTC see downside to the 6k level or below I expect iOST to test the Sep 12th lows and perhaps even fall further. Below 163 sats there is no support. If I were a gambler and wanted to short, this is one to watch, as we are on the edge of a precipice in a bear market. ANYTHING under 210 sats is just a lower high.
Despite my bearish sentiments regarding this project at the moment on the flip side should BTC break bull and spark a market wide rally this could be a good place to accumulate, and resistance will be at 210, 226 and 255 sats. In my opinion this is a high risk altcoin for bulls right now, but very high reward should the market as a whole turn bull.
I put the retrospective up there in order to see if there were any patterns from the last run up that could give clues for the next possible run.
Thanks for checking in. I hope there is something of use in here. Remember I am NOT an expert, I'm just a random dude on Trading View