IOTA stuck in a channel

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  • IOTA price stuck in a channel in medium term chart.
  • Bears have control, bulls face struggle.

IOTA bulls are struggling to come up as the price is stuck in a downward sloping channel on the medium term chart and bears are in control of the price momentum as long as it remains within this channel.

IOT/USD is down less than a percent on day at $0.481, just around the low of the day. A look at the 480-minute chart of IOTA it is clearly visible that the price is stuck in a lower high lower low, downward sloping channel which the bears have control over.

Next move of this crypto is on the downside towards $0.43 before any meaningful bounce to happen when bulls may try and take control of the battleground.

IOT/USD 480-minute chart:

 

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