IOTA/USD Medium-term Trend: Bullish Resistance levels: $0.45, $0.50, $0.55 Support levels: $0.30, 0.25, $0.20

IOTA has been able to make a significant push northwards against the US dollar out of $0.25 and $0.2 range zones that it was confined last week. Noticeably, the crypto began its surging northwards a few hours to end December 17 trading sessions.

Since then, IOTA/USD market valuation has to be on a bullish trend between the Bollinger Upper and Middle Bands until now. Price has been trading around $0.40 mark. The Bollinger Bands are above the 50-day SMA. The Stochastic Oscillators are consolidating around range 75.

Bulls are expected to continue consolidating their presence in the market as levels around the Bollinger Middle Band could serve as a good entry for a long trading position.

IOTA/USD market valuation has been well trending northward above the buy trend-line of the 50-day SMA over a few days ago. Yesterday, the crypto moved around $0.38 and $0.37 marks.

Today, the crypto-market has seen a significant spike that has led to seeing past the $0.40 market line northward briefly. Presently, price is retracing towards the Bollinger Middle Band. The 50-day SMA is a bit above the Bollinger Lower Band. The Stochastic Oscillators are now moving in a consolidation mode within the overbought zone.

Traders may need to exercise patience in order to let the crypto muster its momentum around $0.37 market level to decently re-launch a long entry position.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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