Greetings everyone
Technical analysis on IOTA/USD and XLM/USD pairs showing some good signs
In a glance
- IOTA has formed a double bottom pattern
- Price action is over the Ichimoku cloud
- XLM also a double bottom pattern
- divergence
IOTA/USD
Iota has strong resistance at $1.30 formed by the Fibo 0.3 and great support at $1.07 formed by both Fibo 0.2 and the Ichimoku cloud.
A double bottom has been confirmed in the daily chart, while is above the cloud on the 4h chart.
RSI is just below overbought and a buy signal from the daily MACD.
XLM/USD
This pair, except the double bottom, has formed a small divergence between RSI and the price on the daily chart.
In 4h chart price seems to sideways more, even if it has a breakout, above the Ichimoku cloud, but the volume is below the average.
Resistance is the FIbo 0.2 at $0.46 and the support is at $0.36.
XLM/BTC maybe is in better shape shown that it has reached the "dip"
Last words
Both cryptocurrencies are showing some good signs and I am willing to follow them around to see what will eventually do, as we pass the middle of the week. Either way, trading should be low in volume and without leverage - in my opinion, of course. Whatever you do, always keep that the market is very unstable, so treat with caution, and as always:
Stay Crypto/Stay Safe
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