Analysis of the IOTA/USDT Weekly Chart Using Elliott Wave Principle
Overview & Key Elements
The chart represents the IOTA/USD pair on a weekly timeframe with Elliott Wave structures, Fibonacci retracements, and channel trends.
Key observations:
• completed five-swing downtrend.
• corrective wave (ABC) retracement following the previous bear market.
• potential macro bottom around $0.06-$0.07, indicating capitulation.
• price has bounced off key Fibonacci levels (0.618, 0.786).
• Fibonacci extension targets project potential upside targets at $2.74, $6.61, and $7.50.
• Bearish parallel channel: The price recently broke out of the descending structure.
• Resistance zones: Around $0.60, $0.85, and $2.75 before reaching the higher targets.
• RSI Indicator: previously in oversold territory, now signaling a potential macro reversal.
• The momentum is turning bullish, aligning with the forecasted Wave 3 impulse move.
What Does This Mean for Price Action?
Bullish Reversal Confirmed:
The price action suggests a completed bear market correction and the beginning of a new impulsive bullish wave (likely Wave 3).
A break above $0.57 and $1.00 would strongly confirm this bullish scenario.
Potential Targets for 2025-2026:
• $1.00 - $1.50 → Initial major resistance zone.
• $2.74 - $3.40 → Key Fibonacci extension level, historically significant.
• $6.61 - $7.50 → Maximum projected target based on the 1.236 Fibonacci extension.
Risk Factors:
If IOTA fails to hold above $0.12 - $0.15, further downside towards $0.06 could occur before resuming upward. A break below $0.06 would invalidate this bullish setup.
Conclusion:
Highly bullish setup for IOTA with a strong Elliott Wave structure.
Long-term accumulation levels: $0.12 - $0.20.
Target zones for the next bull run: $2.30 - $7.50.
A parabolic breakout is likely in 2025
Overview & Key Elements
The chart represents the IOTA/USD pair on a weekly timeframe with Elliott Wave structures, Fibonacci retracements, and channel trends.
Key observations:
• completed five-swing downtrend.
• corrective wave (ABC) retracement following the previous bear market.
• potential macro bottom around $0.06-$0.07, indicating capitulation.
• price has bounced off key Fibonacci levels (0.618, 0.786).
• Fibonacci extension targets project potential upside targets at $2.74, $6.61, and $7.50.
• Bearish parallel channel: The price recently broke out of the descending structure.
• Resistance zones: Around $0.60, $0.85, and $2.75 before reaching the higher targets.
• RSI Indicator: previously in oversold territory, now signaling a potential macro reversal.
• The momentum is turning bullish, aligning with the forecasted Wave 3 impulse move.
What Does This Mean for Price Action?
Bullish Reversal Confirmed:
The price action suggests a completed bear market correction and the beginning of a new impulsive bullish wave (likely Wave 3).
A break above $0.57 and $1.00 would strongly confirm this bullish scenario.
Potential Targets for 2025-2026:
• $1.00 - $1.50 → Initial major resistance zone.
• $2.74 - $3.40 → Key Fibonacci extension level, historically significant.
• $6.61 - $7.50 → Maximum projected target based on the 1.236 Fibonacci extension.
Risk Factors:
If IOTA fails to hold above $0.12 - $0.15, further downside towards $0.06 could occur before resuming upward. A break below $0.06 would invalidate this bullish setup.
Conclusion:
Highly bullish setup for IOTA with a strong Elliott Wave structure.
Long-term accumulation levels: $0.12 - $0.20.
Target zones for the next bull run: $2.30 - $7.50.
A parabolic breakout is likely in 2025
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。