IOTA Going Sideways: The crypto market is green today so as IOTA. Price of IOTA rose by 5.49% in the last 24 hours. After reaching a peak of $.445 price started moving down. Bulls are not completely gone. We can see the price is bouncing back from the last two days. The current trend of the market seems to be bullish for some time. Price is already trading above the 200 MA. Global xchange.
RSI also bounced back from its current trend line. Right now RSI is around 56.5. RSI is showing buying interest in the market. Globalxchange. Stochastic is moving away from the overbought zone. Price was trading outside the upper Bollinger band. Price tends to move sideways for a while. Probabilities are the price will cross the resistance of $.445 in future.
Global X change. There is three major support level on the charts. The nearest support level is at $.36. Other two supports are at $.326 and $.245.
Recently momentum is low due to some profit taking. If the bulls remain after the recent bounce back target of $.445 can be reached. To minimize the reward to lose ratio, stop loss equals to $.35. Globalxchange. On the other hand, if the price breaks the support level of $.35 so price level $.32 will be seen.
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