IOTA (MIOTA) Long-term Price forecast-25 November

2018-11-25 17:39

IOT/USD Long-term Trend -bearish

Supply zone: $0.5000, $0.6000, $0.7000
Demand zone: $0.2000 $0.1800, $0.1600

IOTA remains in a bearish trend in the long-term outlook. After the break of the lower demand area, the bears doubled their strength for the downward price movement as the cryptocurrency broke $0.3000 in demand area on 20th November with a large bearish engulfing candle. MIOTAUSD went further down to $0.2668 in the demand area.

The cryptocurrency went into a consolidation with an upper supply area at $0.3715 and a lower demand area at $0.2688. This was trapped in a triangle pattern.

A breakdown from the lower line of the triangle occurred yesterday 24th November as MIOTAUSD dropped lower to $0.2566 in the demand area. A retest is of the broken the line is necessary to guarantee a stronger bearish comeback and downward continuation and this is what currently happening.

The bulls are back and are pushing price up earlier up at $0.2973. This may be up to $0.3000 area around the lower line of the wedge before the bears stage a strong comeback that may take the cryptocurrency to a new low before the trading week comes to an end.

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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$ 0 (+0.00%)

Объем 24H $0

Изменеия 24h: 0.00 %, 7d: 0.00 %

Cегодня L: $0 - H: $0.2993

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Источник: bitcoinexchangeguide.com

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