IOTUSD Price Analysis – June 27
The IOTUSD is stable and with a detailed technical price analysis showing a positive risk factor, the pair has a bias for the upside zone but limited by the downward momentum currently at play. On the contrary, the stakes are running on a range bound journey until the pathway changes.
Supply Level: $0.22994512, $0.33403757, $0.37139441
Demand Levels: $0.57676740, $0.49565369, $0.45113820
IOTUSD Long term Trend: Bearish
After the recent fundamental activity that gave the pair a positive market bias to the upside. A surge in the previous session has seen the pair’s trend catapult itself to the level at $0.053624544.
Furthermore, the present bias towards the upside is weak and its gains are about 11.2% higher from last week’s close and the bulls are aiming for more. The trend is bearish and it is showing an intact downtrend in the long term.
IOTUSD Short term Trend: Bearish
Additionally, looking at the bias for the pair where buyers may have the upper hand in the long run due to the recent spike in trading volumes with the bullish candlestick in the previous session showing up.
It is likely that price will later edge higher and in that case, traders should tune in with smaller entries in short time frames with the expectation of participation as price inch higher but for now, the pair stays bearish.
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