IOTA Price Analysis- July 10
The price is currently at $0.358 level, in case the Bears penetrate the just mentioned level downside, the coin may find support at $0.333 level. Should the $0.358 level holds, the price may reverse and target $0.378 level.
Resistance levels: $0.378, $0.407, $0.433
Support levels: $0.358, $0.333, $0.307
MIOTA Medium-term Trend: Bearish
On the medium-term outlook, IOTA price is Bearish. The crypto was ranging yesterday within the resistance level at $0.407 and the former support level at $0.378. The Bears eventually prevailed over the Bulls; the Bears broke out at $0.378 level with the formation of the strong bearish candle. The price decline to the support level at $0.358 and the Bears are making attempt to break down the level.
The two EMAs are bending towards the direction of the market and trying to distance away from each other, meanwhile, the coin is trading below the 21 periods EMA and 50 periods EMA at a distance from each other which connotes that the bearish momentum is increasing in the MIOTA market. The Stochastic Oscillator period 14 is below 30 levels with the signal lines bending down to indicate sell signal and a further reduction in price. The price is currently at $0.358 level, in case the Bears penetrate the just mentioned level downside, the coin may find support at $0.333 level. Should the $0.358 level holds, the price may reverse and target $0.378 level.
The Bears are still in control of the MIOTA/BTC market. Further pressure was exerted on the coin and the price reduced further to 29 satoshis. Should the Bears have the ability to break the support level at 29 satoshis the price will reduce further towards 25 satoshis.
However, the Stochastic Oscillator period 14 is below 20 levels and the signal lines pointing upside to indicate a buy signal.
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