IOTBTC Price Analysis – June 21
IOTBTC ended Monday at 0.0000473 losing BTC0.0000023 (-4.64%). Today’s close may mark the lowest recorded closing price since May 26th. The bears were in full control today, moving the market lower throughout the whole session.
Demand Levels: 0.000055084, 0.000046627
Supply Levels: 0.000040878, 0.0000379995
IOTBTC Long term trend: Bearish
Prices broke below the key technical supply level at 0.0000481, which is likely to act as resistance going forward. After having been unable to move above the level at 0.0000500 in the previous session, the cryptocurrency ran into sellers again around the same price level today, failing to move higher than the level at 0.0000497.
The trend is bearish, showing an intact downtrend in the medium and long-term.
IOTBTC Short term trend: Bearish
Crossing below the lower RSI line 20 for the first time since April 4th, prices have shown unusually strong downward momentum in the short-term.
This might either indicate a potential selling climax after which prices could head back up towards the top of the moving average on the level at 0.00005084 or signal the beginning of a strong momentum breakout leading to even lower prices.
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