- Short term, medium term charts suggest IOT has tough time going higher.
- Needs momentum to take it past certain levels.
IOT prices up on day and staring at certain resistance levels that might derail or at least pause this price rally that has started in the crypto world over the past few days. Even if it might cross past the immediate barrier, there is another one, not far away.
IOT/USD is up more than one percent on day at $1.026 and trading in less than 2 percent range for the day. On the two hours chart, IOT prices are sitting just below the descending trendline resistance which the price has not been able to cross in last couple of weeks and bulls will need momentum in their favour to sustain this crossover.
Even if bulls manage to cross past this, there is another stronger resistance smiling at them on the face, in the form of descending trendline again on the 360-minute chart.
IOT/USD 120-minute chart:
IOT/USD 360-minute chart:
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