IOTAUSD Price Analysis – July 3
The price of the pair is down with about (0.2%) within the last 24 hours, but the coin has seen a surge which is limited and within the last daily candle while the balance of risk still focuses on the downside zone for IOTAUSD.
Supply Level: $0.22994512, $0.33403757, $0.37139441
Demand Level: $0.57676740, $0.49565369, $0.45113820
IOTAUSD Long term Trend: Ranging
The buyers of the pair are trading with action for the movement of price towards the upside demand zone on the level at $0.451138.
However, if the price continues to consolidate at the current price levels without volumes, we expect a fall to the bottom of the trend line.
One candlestick matches today’s price action confirming the ranging condition of the pair.
IOTAUSD Short term Trend: Bearish
In the mood of the traders, the technical indicator approach used in analyzing the 4-hour time frame identified a wave pattern accordingly, but still uncertain with the fall from the demand level at $0.49569 to the supply zone on the level at $0.371394 area.
The conclusion is that buyers are trying to increase their positions and sellers eager to reduce their position to get good potential for directional change to the upside while the trend remains bearish.
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