Technical analysis IOTA. IOTA-USD on July 18, 2018

#IOTA

It is a top asset with a huge potential, this coin should be considered not only for a medium-term trading but as a long-term investment as well. The team of developers and the technical aspects of an asset open a lot of dors for the global coin growth. IOTA has demonstrated the impulsive increase in price when the markets just started to grow, we can expect the movement like that during the formation of the next uptrend market cycle. Now we are a little below Fib 0.786 of the maximum growth as well as the last wave of growth. The good opportunity appears to get a bounce. The indicators demonstrate the bullish signals and the price is forming the ground for the further growth. We can see the local resistance at 1.15, if we break it, it will give us an opportunity to touch 1.19, 1.24, 1.30 and 1.40 in the middle-term perspective. If to consider a long-term trading, the market has a potential to reach 1.45, 1.60, 1.80, 2.00, 2.20 and 2.50 price points, but it will take time because of the corrections. The strong support has formed on 0.90 level, from which the price has bounced during the market falls. In case of a negative scenario, we can touch his level, however, we will form the uptrend movement once we get a bounce.  If Bitcoin goes down and continues to follow the downtrend, IOTA will behave the same way, that is why the closure of the daily candle below 0.90 level will show the further downtrend. Be careful, watch the markets and don’t get emotionally involved hoping for the fast result.