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IOST price analysis: IOST price is smoothing out

iost price analysis

IOST’s price was highly bearish reveals IOST price analysis but things changed as the project unveiled its plan on hoping to partner with the biggest gaming expo while also collaborating with various traditional game publishing agencies.

IOST has since then developed a bullish trading outlook across the short-term charts with four-hour frames.

The price has crossed over its 200-period moving average (MA) and is steadily climbing higher. The price action is now indicating that a bullish breakout has occurred as the price action has broken above a descending wedge. The bullish moving average is also in play across the charts.

Technical indicators are positive and are showing momentum towards the buyers.

IOST price analysis: IOST price is smoothing out 1IOST price chart by Trading View

Now a bullish triple-bottom pattern is in play across the daily frames. Meanwhile across the four-hour frames the relative strength index (RSI) is bullish but has entered overbought conditions.

The moving average convergence/divergence (MACD) is highly bullish and showing momentum towards buyers across both the histogram and the MACD signal.

IOST is maintaining a bullish outlook across the daily frames with price currently rising above the 200-period MA.

The daily time-frame the bulls have pushed the price back into a neutral wedge after going through a fake bearish breakout. Meanwhile, the technical indicators are also bullish and continue to generate buy signals.

IOST price analysis: IOST price is smoothing out 2

IOST price chart by Trading View

Currently, the price action is highly bullish with the projection towards the top of the wedge pattern. This is evident in the RSI which has switched over towards bulls and is showing momentum by the buyers.

Furthermore, the MACD is also highly bullish with both the MACD signal and the histogram leaned towards the buyers.

The recent bullish rally has changed the outlook across the medium-term charts with the price now headed higher with bullish momentum.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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