IOTA Price Analysis- July 11
There is a tendency that the price will decrease further. Increase in the Bears’ momentum will further decrease the price. In case the support level $0.333 hold the price there may be a bullish reversal.
Resistance levels: $0.358, $0.378, $0.407
Support levels: $0.333, $0.307, $0.287
MIOTA Medium-term Trend: Bearish
On the medium-term outlook, IOTA price is Bearish. IOTA price decreased further in today’s market. There was an increase in momentum from the Bears; the formal demand level of $0.358 was penetrated downside, the coin dropped down to the support level of $0.333. The coin experienced a pullback after it penetrated the $0.333 level.
The coin retains its trading below the 21 periods EMA and 50 periods EMA with an increase in distance from each other which connotes that the bearish momentum is increasing in the MIOTA market.
The Stochastic Oscillator period 14 is at 20 levels with the signal lines bending down to indicate sell signal and a further reduction in price. There is a tendency that the price will decrease further. Increase in the Bears’ momentum will further decrease the price. In case the support level $0.333 hold the price there may be a bullish reversal.
MIOTA/BTC is still bearish. The Bears’ pressure seems to have been exhausted when the coin reduced to 28 satoshis yesterday. The price reversed at the level and the Bulls pushed it up towards 33 satoshis level but were resisted by the 21 periods EMA. The coin descended towards the previous low.
The Stochastic Oscillator period 14 is at 40 levels and the signal lines showing no specific direction which implies that consolidation is ongoing.
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