IOTA price analysis: Falls below $1 mark, sitting at a make or break level

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  • IOT/USD breaks below $1.00 mark after.
  • Sitting at a critical support, severe downside if broken.

IOTA price has broken down of a psychologically important round figure mark of $1.00 and is now sitting at a critical long term support, which if broken, would be apocalyptic for this crypto and bulls would have to go on a long vacation.

IOT/USD is down about half a percent at $0.9723 after flirting with $1.00 mark earlier in the day. On the 180-minute chart, IOTA has been consistently trading under a critical resistance facing ascending trendline through this month and as long as it continues to trade below this line, bias would be to sell on rise.

On the daily chart though, below $1.00 the price is now staring at a long term strong support between $0.90 and $1.00 mark, which if broken would take prices way deeper towards $0.50-$0.70 range.

IOT/USD 180-minute chart:

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