Home IOTA price analysis: Expect a bounce in a narrowing range
Crypto News

IOTA price analysis: Expect a bounce in a narrowing range

  • IOT nears a support on long term chart.
  • Bounce won’t go farther.

IOTA prices nearing a long term critical support line from where it is expected to bounce in a narrowing range even as the bounce won’t go beyond 5-7 percent from current levels.

IOT/USD is down more than 2 percent on day at $0.5618, at the middle point of day’s range. On the 240-minute chart, IOT has been forming a triangle wherein the price is close to lower end of the range and is expected to bounce within 2 percent from current price.

Although the bounce from here won’t go beyond 5-7 percent as that would make it reach upper end of the range of the triangle.

IOT/USD 240-minute chart:

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.