IOTAUSD Price Analysis – July 2
IOTA has a bullish outlook for quite some time now, but the cryptocurrency is trading below the moving average after the crossing of its trigger lines has shifted the medium-term outlook to neutral.
Supply Levels: $0.22994512, $0.33403757, $0.37139441
Demand Levels: $0.57676740, $0.49565369, $0.45113820
IOTAUSD Long term Trend: Ranging
IOTAUSD crossing of the moving average around the key technical demand zone on the level at $0.451138 has given a confirmation for a short term bearish structure that can be interpreted as neutral or ranging.
The daily time frame is showing that a bullish pattern has been invalidated and the pair may begin a bearish move to the south side where sellers may take advantage of the scenario.
IOTAUSD Short term Trend: Bearish
In the prior session, the pair had a price decline towards the supply zone on the level at $0.371394 and the RSI indicator on the four-hour time frame is within range, although it is gradually approaching the overstretched conditions.
Traders should note that the IOTAUSD pair could fall to a new all-time low if the bearish pattern on the short term chart is triggered for a bearish momentum.
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