IOTA IOT/USD is trading at 1.87. 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 1.90 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with the target close to 1.40.
IOTA forecast & analysis IOT/USD May 18, 2018
An additional signal in favor of the drop of the IOTA cryptocurrency will be the resistance area test, as well as the upper bound of the «Triangle» model. Earlier, a strong signal was received for sell of IOTA cryptocurrency, due to the crossing of signal lines at 1.90 level.
The cancellation of the IOTA quotation decline will be the breakdown of the upper Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 2.20, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations IOT/USD stands with the breakdown of the lower limit of the model «Triangle» and the closing below the level of 1.75.