IOTA/USD Medium-term Trend: Ranging Resistance levels: $0.40, $0.45, $0.50 Support levels: $0.30, 0.25, $0.20

IOTA/USD market has been experiencing a series of price ranging movements since around December 29 until present. The crypto’s range zones are depicted by $38 and $34 marks.

Also in notation, most of the lower lows and lower highs are featured above both the 50-day SMA and the Bollinger Middle Band. The 50-day SMA is located a bit below the Bollinger Middle Band. The Stochastic Oscillators have headed downwards to touch range 40, they now apparently attempting to close.

This crypto has been trading around both the 50-day SMA’s trend-line and the Bollinger Middle Band to find foundations for a better upswing of its price movements. Bulls now look coming back into the market gradually.

Today, in about couple of trading hours, IOTA/USD price moved in a ranging manner but now it looks like the crypto is getting pressed downward to break the lower range. The crypto’s range zones in the short-term trend are $0.36 and $0.35.

In a similar manner, as at yesterday, the crypto basically moved within $0.37 and $0.36 marks. The Bollinger Middle Band and the 50-day SMA are now conjoined. The Stochastic Oscillators have just crossed below range 40 to point south.

It looks that the bears are now gradually prevailing over this crypto-market. A strong further push against the lower range may result in having a low market point between $0.34 and $0.33 price levels.

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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