IOTA IOT/USD is trading at 2.39. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in IOTA. Ichimoku Kinko Hyo Cloud is expected to test near the 2.35 level, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with the target of near 3.10.
IOTA forecast & analysis IOT/USD May 9, 2018
An additional signal in favor of the growth of the IOTA cryptocurrency will be the support area test, as well as the lower channel test. Earlier, we received a weak signal for sell of IOTA cryptocurrency, due to crossing of signal lines at the level of 2.35.
The cancellation of the IOTA quotation growth scenario will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 2.15, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations IOT/USD stands with the breakdown of the resistance area and the closing above the level of 2.60.
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