IOTAUSD - possible development if residentline holds
IOTA / Dollar (calculated by TradingView) BINANCE:IOTAUSD
this is just an idea how IOTA might develop in the upcoming 30-45 days.
We have seen similar Patterns in the past and a break out is possible. To be able to break out, IOTA Needs to proof the residentline of the past months. If this one breaks a fall back to 94 Cent or deeper is possible.
If the residentline holds a break out of the triangle is possible. The upcoming fair in Germany in which Volkswagen and ist CDO is partnering might be a good start for a breakout of the triangle.
Please: this is just an Analysis based on daily Chart and past RSI - The last break Outs happend:
1. when IOTA foundation announced the data Marketplace and the companies taking part (beginning of december)
2. IOTA was part of the worlds largest Technology fair in Hannover partnering with Fujitsu (end of April)
3. Possibly the upcoming fair when partnering with Volkswagen - only an estimation.