IOTA/USD Medium-term Trend: Ranging

Resistance levels: $0.35, $0.40, $0.45
Support levels: $0.20, 0.15, $0.10

IOTA paired with the USD has continued witnessing different market range movements around the same last week’s $0.35 and $0.25 range boundaries. Basically, there was an emergence of different lower highs and lower lows around the $0.30 upper range boundary between November 28 and December 2.

Today, the crypto-market has slightly got push southwards against the lower Bollinger Band past the 50-day SMA. The market is now currently ranging closely over the lower Bollinger Band. The 50-day SMA is closely located underneath the middle Bollinger Band. The Stochastic Oscillators have crossed and touched range 20 to point south direction.

It appears that the lower Bollinger Band will soon be stretched southwards to revisit a market level around the last Nov. 25 market low mark.

The IOTA/USD price has witnessed a significant decline around the $0.298 high to average the $0.275 horizontal low market point today. Currently, the crypto has been trading around the lower Bollinger Band.

Yesterday, the pair pushed northward in the short-term run to average a $0.315 high market mark. Thereafter, it encountered a strong resistance at the said spot to begin dropping southward until now. The 50-day SMA is over the Bollinger Band. The Stochastic Oscillators are now consolidating their movements very tightly a bit above range 20.

That suggests that the bears’ strength has not softened to probably have a safe come-back for the bulls into the trade as at now.

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

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