Additionally, the pattern has been combined with a bullish divergence in the RSI, whose trendline is still intact.In order for the pattern to be confirmed, IOTA has to break out from the $0.55 area. This effectively created a triple bottom, which is considered a bullish pattern. You can still trade as normal on our platform with IOTA and any other available token. We are still waiting for confirmation from them with regards to when they will resume transaction operations. Chart By TradingViewShort-term IOTA movementFinally, the two-hour chart shows that IOTA has bounced thrice at the $0.515 horizontal support area. From Binance support: 'support jp (Binance) Dec 7, 09:20 CST Hello, IOTA has currently suspended transactions due to a bug in their system. Therefore, the daily time frame readings are in alignment with those from the weekly time frame, suggesting that new lows are on the horizon. Additionally, while the MACD had initially generated some bullish divergence (green line), its trendline is now broken. Similar to the weekly time frame, the RSI and MACD are both falling, the former is below 50 and the latter is negative. While following the line, IOTA reached a new yearly low of $0.499 on May 1.Technical indicators in the daily time frame are bearish. Its back up They halted withdrawals when the coordinator was having issues but they havent reopened them yet now that its fixed. While the line has been validated four times, its slope is not certain due to the presence of several long lower wicks. Got an email this morning that IOTA withdraws were available again but of course Im away from my computer. IOTA was conceptualized in 2015 and officially released in June 2017. 22, IOTA has been decreasing alongside a descending support line. May 21st 2020 IOTA is a permissionless distributed ledger 'for a new economy'. The level coincides with that outlined in the image above.Source: TwitterNew yearly lowsThe daily chart shows that since Jan. As a result of both the price action and indicator readings, the most likely scenario would be a continued descent towards the $0.42 horizontal support area.Chart By TradingViewCryptocurrency trader tweeted a chart of IOTA which shows the price returning to a long-term support level just above $0.40. The reason for this is that both the RSI and MACD are falling, the former is below 50 and the latter is negative. So far, it reached a low of $0.49 on May 2.Technical indicators in the weekly time frame are bearish. Initially, the price bounced five times (green icons) at the $0.75 horizontal support area.Still, it failed to initiate an upward movement and finally broke down on April 11, 2022. There are no bullish reversal signs in the long- or the medium-term.IOTA has been decreasing underneath a descending resistance line since reaching a high of $2.74 on April 16, 2021. IOTA has broken down from a horizontal support area that had previously been in place for more than 300 days.
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