IOTA Day's Leader,. What's Next???
IOTA / Dollar (calculated by TradingView) BINANCE:IOTAUSD
IOTA added over nine percent in the past 24 hours and the currency pair seems to change its tendency. However, it stays within the Fibonacci retracement meaning the correction is still in play. The currency pair is one of today’s leaders and show signs of further upside tendency to develop.
Let’s have a closer look at the situation on the Hourly chart. The currency pair has demonstrated strong desire to grow as it establishes higher lows and highs. The price has jumped over the Fibonacci retracement graphic tool, but returned inside. What are the possible ways for IOTA/USD?
1. Red scenario ( bearish ). The currency pair will decline breaking through several retracements including 0.236, 0.382, 0.5.
2. Orange scenario (neutral). The currency pair will reach $1.8472 and jump off this resistance level targeting the closest support area .
3. Green scenario ( bullish ). The currency pair will reach $1.8472 and break through this level targeting the next resistance area at $1.9533.
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