IOTA Price Analysis
Current price action looks to be forming a bull pennant on the daily chart.
The past two daily candles closed forming tweezer tops signalling a reversal this is confirmed by the Stochastic RSI which just underwent a bearish cross in the overbought region.
The kumo as well as the Kijun, and Tenkan sen are all acting as supported this is further reinforced by the .5 fibonacci level.
The DI+ has curled inward to reflect the current drop in price.
The price should fall next to the Kumo/Kijun to form a higher low before resuming it's current uptrend.
The past two daily candles closed forming tweezer tops signalling a reversal this is confirmed by the Stochastic RSI which just underwent a bearish cross in the overbought region.
The kumo as well as the Kijun, and Tenkan sen are all acting as supported this is further reinforced by the .5 fibonacci level.
The DI+ has curled inward to reflect the current drop in price.
The price should fall next to the Kumo/Kijun to form a higher low before resuming it's current uptrend.
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