Iota' is not a coin with attractive fundamentals, but that is not within the scope of this post. Do Your Own Research.
Iota' had a massive surge in price recently, consolidating healthily above the kumo right under its all-time high. Due to the massive increase in hype and market participants lately, it does not seem likely that Iota is going to top here. The volume is continuing to grow and negative news is shucked off as merely flesh wound. Fibonacci extensions and the classical bull-flag pattern give the orange box as a price target, 90% up from current price.
There are some strange market conditions that might throw a wrench into this pattern, like the complete inability of Iota' holders to transfer coins from the Iota' wallet to an exchange for sale. When (if?) this issue is identified and resolved, there may be additional selling pressure.
Additionally, there was some good news about purported partnerships that turned out to be little more than exaggeration. Should sellers enter the market or hype be replaced with education about fundamentals, I would expect price to fall quite drastically. For now, Iota' is touted as the Blockchain Killer™, and as always, the trend is your friend.
This is not meant as investment advice. Happy trading
Iota' had a massive surge in price recently, consolidating healthily above the kumo right under its all-time high. Due to the massive increase in hype and market participants lately, it does not seem likely that Iota is going to top here. The volume is continuing to grow and negative news is shucked off as merely flesh wound. Fibonacci extensions and the classical bull-flag pattern give the orange box as a price target, 90% up from current price.
There are some strange market conditions that might throw a wrench into this pattern, like the complete inability of Iota' holders to transfer coins from the Iota' wallet to an exchange for sale. When (if?) this issue is identified and resolved, there may be additional selling pressure.
Additionally, there was some good news about purported partnerships that turned out to be little more than exaggeration. Should sellers enter the market or hype be replaced with education about fundamentals, I would expect price to fall quite drastically. For now, Iota' is touted as the Blockchain Killer™, and as always, the trend is your friend.
This is not meant as investment advice. Happy trading