Even if the price of Iota, like all cryptocurrencies, followed that of Bitcoin, it remained more compressed in the horizontal channel (1.20$ / 2.20 $). This translates into greater confidence in this project with a strong "hodl" spirit on the part of buyers.
Trading volumes have remained very low since the end of December, with the price going down. Few relevant news from the foundation have pushed several to sell hoping to exploit the downward movement, while wealthy new buyers are still waiting for a strong signal of recovery before returning to the market with fresh capital.
From the point of view of technical analysis we can see a macro pattern falling wedge, which seems to be completed every day that passes.
A first relevant purchase threshold could be 0.95$. The breakdown of levels 1.20$ and then 1.30$ would then confirm the beginning of a long bull market phase. For now we are neutral.
Have a good trading!
Trading volumes have remained very low since the end of December, with the price going down. Few relevant news from the foundation have pushed several to sell hoping to exploit the downward movement, while wealthy new buyers are still waiting for a strong signal of recovery before returning to the market with fresh capital.
From the point of view of technical analysis we can see a macro pattern falling wedge, which seems to be completed every day that passes.
A first relevant purchase threshold could be 0.95$. The breakdown of levels 1.20$ and then 1.30$ would then confirm the beginning of a long bull market phase. For now we are neutral.
Have a good trading!