IOTAUSD Price Analysis – June 14
Ranging up and down for the 3rd day in a row, IOTAUSD ended Thursday at 0.4376 edging higher around the level at $0.0045 (1.04%). The longer-term daily volatility is currently higher than usual for the pair.
Demand Level: $0.57676740, $0.49565369, $0.46804052,
Supply Level: $0.4008727, $0.33403757, $0.22994512
IOTAUSD Long term trend: Bullish
After spiking up to the high level at $0.4508 during the day, IOTAUSD found resistance at the cross of the moving average on the level at $0.4457.
The last time this happened was the last month of May 2019, IOTAUSD was negative to the downside with -3.53% on the following day. Although the market is currently in a short term downtrend, this might just be a correction as the long term trend is still bullish.
IOTAUSD Short term trend: Bearish
The optimal exit for the swing trade in this condition was in play for 3 days now, showing a win rate of 50% with a positive average market move to the downside.
The pair has the potential for a short term move towards the downside before the uptrend continuation pattern may come into play. We see the price pressing down the trendline on the 4-hour chat for a downward breakout in the short term.
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