The IOTAUSD pair has been on the fence for several days now, waiting on which side to jump to. Though analyst favors the bearish side. This is due to some factors bothering, which includes price action formation.
Support levels: $0.40, $0.47, and $0.57
Demand levels:$0.35,$0.26, and $0.23
IOTAUSD Trends: Bearish
From the daily analysis the coins look bearish, the daily candle closure at the beginning of June set up the basis for the bearish trend, and there was an engulfment of the daily candle closure, which ended at a major resistance price of $0.57. Thus, the market has come down to the price level of $0.40. And this area has proven to be a major barrier, for the market. The price has been sitting at this level, for the past 12 days, testing and retesting it, and breaking it will give a glimpse of hope for the bearish trend.
A review of the daily chart shows that the price is resting on the lower trend line, the 50 Exponential Moving average as well as the resistance level of $0.40. And the MACD Histogram bars are a bit, flat.
IOTABTC Market Analysis
The coin is on a south side movement. The momentum has been high after some days of moving in a flat market condition, and it looks good heading to the next resistant level.
The 4-Hours price is far away from the 50 Exponential Moving Average, indicating bearish momentum. Also, the Pivot Reversal Indicators arrows are pointing downwards, and the MACD Histogram bars are yearning seriously for the bearish continuation.
Please 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.