IOTA/USD is trading inside a range
IOTA has been failing to breakout of $0.4037 for four week
the bears pushed prices back but lower levels are attracting buying as the bulls try to stage a recovery.
If the coin rises from the current levels, the bulls will again attempt to breakout from $0.4037.
If successful, a rally to $0.6, followed by a move to the next overhead resistance of $0.8152, is probable.
However, if the bulls fail to force a turnaround at the current levels, a drop to $0.2051 is likely.
If this support breaks, a retest of the critical support of $0.1427 will be on the cards.
The downtrend will resume if this level gives way.
(Not a trading advice.)
IOTA has been failing to breakout of $0.4037 for four week
the bears pushed prices back but lower levels are attracting buying as the bulls try to stage a recovery.
If the coin rises from the current levels, the bulls will again attempt to breakout from $0.4037.
If successful, a rally to $0.6, followed by a move to the next overhead resistance of $0.8152, is probable.
However, if the bulls fail to force a turnaround at the current levels, a drop to $0.2051 is likely.
If this support breaks, a retest of the critical support of $0.1427 will be on the cards.
The downtrend will resume if this level gives way.
(Not a trading advice.)