Search ForexCrunch
  • IOT price sitting exactly at a critical support line.
  • A sustainable bounce or another crash from here.

IOTA bulls and bears are fighting a survival battle right now wherein a bounce would mean bears have to give away their turf for a few days and a crash would mean bulls won’t be around for next few days or even weeks.

IOT/USD is down a bit less than a percent for the day at $0.477 just a few bps away from the low point of the day. On the 360-minute chart IOTA price is sitting exactly at a critical support line that has been a lifeline for the bulls for last few weeks.

A break from here would mean price cracking all the way towards August lows whereas a bounce could take it towards mid-October highs.

IOT/USD 360-minute chart: