2019-1-28 14:31 |
IOTA/USD Medium-term Trend: Bearish Resistance levels: $0.34, $0.36, $0.38 Support levels: $0.22, 0.20, $0.18
IOTA/USD market in its first 4-hour trading period this week saw a weak bulls star-up, and as a result began to witness a significant decline until now. The crypto succumbed to the US dollar purchasing power to push southwards against $0.28 mark towards averaging $0.25 price level today.
As at now, price has been trading around the Bollinger Lower Band. $0.3 market line is found a mid-point between the Bollinger Upper Band and the 50-day SMA. The Stochastic Oscillators are consolidating around range 25 closely to the overbought zone.
Going by indicator signals, bears are still much in control of this crypto-market. The bulls may in the medium-term run make a come-back while the market pull upward against the Bollinger Middle Band.
IOTA/USD Short-term Trend: BearishIOTA price valuation has been on a note of dropping sequentially against the US dollar trade worth since yesterday. Today, the crypto-market has dropped to achieve a low market point of around $0.252.
Price appears to make a short rally from the low mark to now trade around $0.26 between the Bollinger Middle Band and the Bollinger Lower Band as both the Bollinger Upper Band and the 50-day SMA are closely located around $0.28 mark. The Stochastic Oscillators have crossed to point south a bit above range 25 to probably signify the expectation of the continuation of downward price movement of the market.
There is still a potential of witnessing more downs than ups in this crypto-trade as long as the Bollinger Lower Band doesn’t witness a strong reversal from below its market point.
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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