IOTA IOT/USD is trading at 1.96. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in IOTA. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 2.00 is expected, from which we should expect a rebound and an attempt to continue the fall of the crypto currency with the target close to 1.40.
IOTA forecast & analysis IOT/USD May 16, 2018
An additional signal in favor of the drop of the IOTA cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of IOTA cryptocurrency, due to the intersection of signal lines at the level of 1.90.
The cancellation of the drop in IOTA quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 2.25, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations IOT/USD is with the breakdown of the support area and closing below the level of 1.75.