IOTA, TRX & NEO Complete Pullbacks, Upward Movement Expected
2 min readIOTA (IOTA), Tron (TRX), and NEO (NEO) have completed fourth wave pullbacks and could soon begin another upward move.
TRX and IOTA have also reclaimed horizontal support levels.
IOTA
IOTA has been moving downwards since April 16, when it reached a high of $2.74. The drop accelerated on May 19, leading to a low of $0.74 being reached the same day. However, the token has bounced considerably since then, currently trading at $1.30.
The movement resembles a fourth wave pullback, since IOTA bounced right at the middle of a parallel channel connecting the upper and lower limits of waves one and two, respectively.
In addition, it has now reclaimed the $1 area.
If IOTA begins wave five, the two potential targets for the top would be found at $3.43 and $5.06, respectively. The latter would take the price very close to a new all-time high.
The targets are found using a Fib projection on the length of waves 1-3.
*The logarithmic chart is used in order to better visualize large price fluctuations.
Highlights
- IOTA has completed a fourth wave pullback.
- There is support at $1.
Tron (TRX)
TRX has been moving downwards since April 16, when it reached a high of $0.178. After creating a lower high on May 7, it started to drop at an accelerated rate.
On May 19, the token reached a low of $0.05.
Similarly to IOTA the movement looks like a completed fourth wave pullback.
The two most likely targets for the top of the upward movement are found at $0.236 and $0.342, respectively. The latter would take TRX above the current all-time high price of $0.30.
Highlights
- TRX has completed a fourth wave pullback.
- There is support at $0.062.
NEO
NEO has been decreasing since May 7, when it reached a high of $141. While the drop was initially gradual, it accelerated on May 19, leading to a low of $40.
The decrease looks very similar to that of IOTA, making it likely that the price has completed a fourth wave pullback.
If so, the two most likely targets for the top of the upward movement would be at $177 and $261, respectively.
The latter would take it to a new all-time high, since the current one is at $198.
Highlights
- NEO has completed a fourth wave pullback.
- The most likely targets for wave five are found at $177 and $261, respectively.
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