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Is IOTA Currently Bullish or Bearish?


Iota is a well-known crypto asset that uses Tangle instead of Blockchain as its distributed ledger (DLT). Tangle is a practical implementation of the Directed Acyclic Graph (DAG), which, like blockchain technology, does not require a central intervening authority, as the case of banks. But Tangle has been designed with the Internet of Things (IoT) in mind. IoT was devised to create a universe of interconnected devices, interacting among them using a multitude of tiny identifiers enabling them to perform their tasks without human intervention.

Iota has been moving in an upward trend after the sharp selloff it did when the Crypto sector melted on March 12, along with the mainstream stock markets in what is known as the Black Thursday. Its last price-action segment is drawing a triangular pattern, with the RSI starting to get strength, after making a low at 40, as IOTA's price touched the bottom of its linear regression channel, which is two sigmas away from its mean line. Also, we see that the last candlestick bounced off the 50-period simple moving average (SMA) on strong volume.

IOTA Outlook

We consider IOTA mah break the triangle to the upside and head up to test the $0.195 level, and moving, even to test the $0.2 key level. Buyers can take a long entry at the current price with the mentioned target of $0.20. The invalidation level is below $o.18 for a Reward of 1.5 the risk.

Key levels

Entry: 0.188

Invalidation: 0.18

Potential resistance levels: 0.195 and 0.20

CryptoRocket Review

Source: https://www.cryptorocket.com/news/is-iota-currently-bullish-or-bearish/
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