IOT/USD Trading Analysis (13/05/2025)
The coin is trading within the 365-135 EMA range. The downward truncated wave structure ended with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator indicates an oversold condition.
Trade idea:
- Buy when the formation of the ascending wave structure begins and wave A breaches the sloping channel of the descending truncated structure.
- Stop-loss at 0.2270.
- Target prices are 0.2470 and 0.2640.
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