Above pictured is the daily chart of IOTA or MIOTA coin.
Listed 8 on coinmarketcap
Almost 40% decline in last 24 hours and also a long wick on daily chart that shows high volatility.
On lower timeframes (Hourly, 30 minutes) the candle formed gave a bullish signal.
TRADING IDEA
The coin can be bought against USD and BTC as well, for long and short term results but remember to buy in parts because the lower strong support is at 1.1USD which is too low,
The volatility if moved in our favor can take the price to 5$ within a week.
I will not hold this coin for long term as it doesn't qualify for my golden investment rules for CryptoCurrencies.
This is my own analysis and trading idea not a financial advice
Thanks for Reading.
