sebastian.seliga.7

IOTA - A promising Rebound!

BITFINEX:IOTUSD   Iota / Dollar
The IOTA cryptocurrency price managed to recover over half of the pre-holiday decline and is now just below the supply zone and below the local resistance at the level of $ 4.49. The golden trend line has just been tested and you can see small, but always, demand engagement at the levels of $ 3.20 - $ 3.30. For increases to be continued, the local support level of $ 2.72 should remain intact.

From the point of view of the Elliott wave theory, there are two wave scenarios available, both of which are pro-growth in the long term. Moreover, if the alternative scenario turns out to be a correct wave scenario, the potential for growth is much higher than in the case of the main scenario. The invalidation of the growth scenario will occur with the violation of the level of $ 1.10.



Main trend: UP

Intermediate trend: UP

Daily trend: UP / NEUTRALNY (continuation of the correction)


Key levels:

- for further increases - the level is $ 4.49 and later $ 5.80.

- for the continuation of the correction - the level of $ 2.72 and later $ 2.14

- for the continuation of decreases - the level of $ 1.10.


The next analysis of IOTA cryptocurrencies will be published if this post receives a min. 50 likes.

Good luck! :)
Trade active: The WXYXZ complex corrective structure in wave (2) might have been completed, but there is still no violation of the red resistance zone between the levels of 4.00 - 4.50. this zone must be violated in order for the market to develop an impulsive wave to the upside.
The same applies to the support zone between the levels of 2.72 -3.02. If broken, the price might visit the level of 2.14 and then 1.10.
snapshot
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Should we still hold?
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Holidays are over. S Korea hysteria is over. Do you have an update?
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Hey, I really like your TA! Do you have an IOTA update for us?
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Whats the move on this? @sebastian.seliga.7
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Thanks for this extensive analysis. I hope you will keep doing it in the future.

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+50 LiKES,, updates please
+2 Reply
urbantrade88 urbantrade88
Also, you are not financial adviser but if you were to holding IOTA right now, what would you do?
+1 Reply
@urbantrade88, HODL :)
+2 Reply
So should I hold Iota, or sell them and rebuy them if it's a lower price?
+1 Reply
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