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Weekly forecast IOTA technical chart

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 2, 2023 - 08:51
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.2310 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.2354 on 2022-05-12 and the trough at 0.231 on 2022-06-18, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI downtrend #1 is broken, so the probability of continuation of downtrend is decreased.
  • A peak is formed in daily chart at 0.2790 on 11/05/2022, so more losses to support(s) 0.1446, 0.0755 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 38.

Symbol Released Current Forecast
IOTA (IOTAUSD) free Mon, 2 Jan 2023
IOTA (IOTAUSD) Sun, 25 Dec 2022
IOTA (IOTAUSD) Mon, 5 Dec 2022
IOTA (IOTAUSD) Sun, 27 Nov 2022
IOTA (IOTAUSD) Mon, 21 Nov 2022