IOTAUSDT has maintained a slow market pressure within the range of a tight support and resistance level. This calls for a breakout that will accelerate momentum of the trend drive.
Support levels: $0.40, $0.47, and $0.57
Demand levels:$0.35,$0.26, and $0.23
IOTAUSDT Trends: Ranging
For the past two weeks the pair have been in a counter-trending mode, the price movement has been within the support and resistance area of $0.40 and $0.47, and until price goes out of this channel, the trend direction cannot be ascertained, and any move out of the channel will invariably be a breakout either for a bullish or bearish trend.
The daily chart X-ray shows that the price is within the confines of the two Exponential Moving Averages 14 and 50, And the MACD Histogram bars lying flat.
IOTABTC Market Analysis
IOTABTC has been falling freely in the bearish trend; the price has reached the major resistance level, which calls for caution. Allowing the price close below the resistance level will be ideal before re-entry or wait for a reversal in case the area becomes a barrier to the price.
The 4-Hours chart is showing that the price has been trailing below within the 14 Exponential Moving Averages for a bearish lift, and the MACD Indicator Histogram bars are on the downside, pointing a short market.
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