IOTAUSD - 1D Chart Analysis

28. Jan. 2019

The end of the year has represented a good period for Iota, with it's price increasing from 0.2506$ on the 17th of December to 0.3726$ on the 10th of January, registering a total growth of 48.63%.

Although the odds were looking favorable, the coin was pressured afterwards by the drop of the market capitalization, with the investors being concerned more about the stock market earnings season.

In other words, once the bearish trend on a 1D chart was settled on the 10th of January, we could see a period in which the price evolution was slow and inconsistent, followed by 6 consecutive days of losses (including today) caused mainly by the very low trading volumes.

And even if the RSI and the Stochastic are close to their "oversold" levels, the MACD is still below the Signal, meaning that it's possible that the price to slow down for a couple of days and then to drop again.

Considering also that in the following days we'll have companies like Apple, Pfizer, Verizon and other big names coming up with their financial results, it's possible for the total market capitalization to continue it's negative rally and also for the price of Iota to go towards 0.2050$.

The save up may come from the FED if it will take a surprising decision on Wednesday, but the chances are fairly small.