IOTA Technical Analysis: IOTA/USD big bullish pennant eyed, just a matter of time for a breakout

• IOTA price suffered on Friday, losing further momentum after a good start to the trading week.
• IOTA/USD moving within a big bullish pennant pattern eyed on the daily chart.

IOTA/USD 4-hour chart

Spot rate:                    0.7174

Relative change:        -0.35%

High:                           0.7518

Low:                            0.6740

Trend:                         Bearish

Support 1:                   0.6706-0.6520, chunky demand area.

Support    2:                  0.6256, 50DMA & top area on 27th August.

Support    3:                  0.5634, 100DMA.

Resistance 1:              0.7200. upper part of pennant pattern.  

Resistance 2:             0.7430, resistance on 4-hour chart.  

Resistance 3:             0.7945, top area 29th August & supply area.