Market & Ticker: Stacks – IOTX/USDC

Date: 28/08/2024 

Horizon / Timing:  Tactical Mid-term / 1 to 3 months 

Scenario:  

IOTX has been evolving in descending range since MARCH 2023. This Range is forming a base for a long-term perspective. We do expect a bullish momentum to test the upper part of the range before following the capacity of the token to exit from the pattern. 

At the current level as long as 0.030 remains a tactical support valid a larger rise towards 0.047 is expected. On the midterm 0.07 is the standard target

Technical Key Elements:

• Flag pattern on going 
• RSI indicator is above 50% and keeps potential 
• The Moving average are resistance 
• Fibonacci key support is adjusted at 0,030 while the Elliot wave shows upside potential towards 0,070

Trade Idea conclusion: Buy  

• Tactical Target Max 0,070
• Tactical Target 0,047
• Tactical key support (Pivot) 0.030 (Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

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