MavericcCap

IOST USDT - Can history repeat itself?

HUOBI:IOSTUSDT   IOST / Tether USD
IOST started its journey at All time High in Jan 2018 @ 0.139 USDT for each IOST Token while reaching a low of 0.003589 USDT per IOST Token in December 2018, a downfall of 97.42% in just 12 months. After hitting the low in December 2018, it started the journey of crawling back up reaching a high of 0.0185 USDT in April 2019. During this time, it crossed the resistance trend line on the daily / weekly charts and subsequently generated returns of over 190% on the weekly charts while around 160% on the daily charts .

Daily Chart showing the trend during Jan 2018 - April 2019:

Weekly Chart showing the price action:

During December 2018, IOST hit the then all time low while approaching the resistance trend line on daily / weekly charts. Come to March 2020, IOST hit the now all time low while approaching the resistance trend line on daily / weekly charts. The said patterns are shown by the highlighted boxes.

Can IOST break the resistance trendline again and showcase similar price action?

We will monitor and wait for break out of trend line if any and take action accordingly.



Comment: IOST has broken out of the long term trendline and closed above it on the 4H Chart. Wait for daily closing confirmation. Similar trend break is also seen on IOSTBTC pair..
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Interesting idea
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