IOTA - RSI low, extreme fear offers opportunity
The FUD around crypto is hitting hard. The market has not been this oversold (RSI on the daily) since March 2020. 75% price loss from the peak is a pain for people who came in late and I hope this will not scare away newcomers. However, for others this is a great opportunity to enter the market who before argued that prices were too high.
We broke a critical support at 1.70 and from there it was a free fall to the current support at around 0.68 and currently we are trading at 0.76. The crypto market is ruthless and we might see another leg down, but I also see a great recovery coming as history has it proven to us many times. It is interesting that less volume has moved the price much more down then it did beginning of Feb on the way up.
One thing has not changed at all during this sell-off - the technology.
This is no financial advice.
Happy trading!
We broke a critical support at 1.70 and from there it was a free fall to the current support at around 0.68 and currently we are trading at 0.76. The crypto market is ruthless and we might see another leg down, but I also see a great recovery coming as history has it proven to us many times. It is interesting that less volume has moved the price much more down then it did beginning of Feb on the way up.
One thing has not changed at all during this sell-off - the technology.
This is no financial advice.
Happy trading!
