- IOT nears medium term support.
- Should bounce from these levels.
IOTA bulls have something going in their favour after the recent price deep that saw prices cracking close to 30 percent in no time, as the fall resulted in prices bouncing back from the medium term support line.
IOT/USD is up close to 4 percent on day at $0.584, near the high point of the day. This bounce is all as a result of prices coming closer to an ascending trendline support on the 240-minute charts.
There’s a slim chance though that the price would again fall towards the very trendline, but in all likelihood it should result in yet another bounce.
IOT/USD 240-minute chart:
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