IOTAUSD Price Analysis – July 1
IOTA is actively pursuing its outlook to maintain a positive bias with further news for the cryptocurrency as participants sentiment makes the pair an attractive choice.
Supply Levels: $0.22994512, $0.33403757, $0.37139441
Demand Levels: $0.57676740, $0.49565369, $0.45113820
IOTAUSD Long term Trend: Ranging
The pairs range continues to trend between the key technical demand and supply zone and only that the area of interest is the upside zone while a strong supply awaits the price on the level at $0.33403757 area.
A sustainable move in the past few days has reinforced the bias towards the demand zone on the level at $0.45113820 and it has defined a long term momentum for the coin.
IOTAUSD Short term Trend: Bearish
The supply zone as seen on the 4-hour chart on the level at $0.37139441 is already activated and the supply zone is grounded for a bounce to the upside area to prevent a sharp fall towards the level at $0.33403757.
The downward momentum may enable the high performance of the pair to the next supply zone to later bring a rebound to the upside zone as the trading volume increases for bulls to take over.
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