IOTUSD Price Analysis – June 19
Though the cryptocurrency is currently in a short term downtrend, this might just be a correction, as both the medium and long term trends are still evolving.
Demand Level: $0.5533, $0.4674
Supply Level: $0.3937, $0.3725
IOTUSD Long term trend – Bullish
The pair has closed higher and the pattern recognition on the daily chart has reinforced the market condition for the continuation of the prevailing trend.
The optimal exit for swing trading this condition on the long side has been after like 10 days, showing a win rate positive to the upside for the pair; therefore the IOTUSD is in continuation of previous uptrend breakout.
IOTUSD Short term trend – Bullish
After trending down to the level at $0.4296 earlier during the day, market price bounced off the key level trend line technical support level at $0.4300.
The failure to close the below support zone could give an increase to the significance of the level as support going forward. On the flip side, IOTA found buyers again around the level at $0.4319.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results