IOTA Breaks Out, Aims For Recent Highs

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In Brief
  • IOTA/BTC has broken out from a descending resistance line.

  • The price is facing resistance from the 200-day MA and the 2,650-2,750 satoshi resistance area.

  • For IOTA/USD, a golden cross has transpired on the daily time-frame.

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The IOTA (IOTA) price has broken out from a descending resistance line and has been increasing at an accelerated rate over the past three days. The IOTA price has been increasing since June 27, when it initially dropped to the 2220 satoshi support area. Resistance Line Breakout Two days later, the price created a bullish hammer candlestick and broke out above a descending resistance

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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