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  • IOTA and Bitcoin Gold lead the cryptocurrency with their subtle gains on Thursday.
  • IOTA’s technical levels align for a breakout above the trendline resistance.

Cryptocurrencies are mostly in the red on Thursday. However, few selected digital assets are daring to stay in the green and they include IOTA and Bitcoin Gold (BTG). IOTA is up a subtle 1.45% on the day while BTG has to correct higher only by 1.17%. All the top three cryptocurrencies, Bitcoin, Ripple, and Ethereum stuck in the red and battling to detangle from the bear pressure grappling them.

IOTA’s tested support area at $0.24 – $0.25 is giving the recovery leg a strong foundation. Although yesterday’s attempt to reverse the downtrend below the descending trendline hit a snag at $0.26, the second assault today has smashed towards the next hurdle at $0.27.

According to the picture painted by certain technical indicators such as the relative strength index (RSI) and the moving average convergence divergence, breakout above the critical trendline resistance is possible in the near-term.

The bulls must also be prepared to face the seller congestion at $0.27. The simple moving averages will also prevent movement towards $0.29 (supply zone). The 100 SMA on the hourly chart is currently at $0.2720 and the 50 SMA at $0.2818.

IOT/USD 60′ chart