IOTAUSD has been a bearish trend alongside most of the other majors like BTC and ETH.
We saw support kicking in at $1.94 and pushed us back into the $2 zone, however the bulls were met by the bears and we have been in battle since the 16th of Jan.
This triangle can be seen as a continue sign of the current bear trend and the bulls will have to bring a lot of buying pressure to get us to break to the topside.
This is crypto and anything can happen so it pays to be prepared.
We will wait to see what the market does before going long or short on the IOTAUSD markets.
Immediate support is at $2 - $2.2 and should that support level fail, I would expect the bearish trend to continue and consolidate into the $1 zone.
Resistance is at $2.4 - $2.6 and the bulls need to get above that to test the $3 resistance zone.
Should we break through $3 it will be smooth sailing to the $4 zone.
Follow and share if you like my trading advice, feel free to discuss this trade with our crypto trading crew.
We saw support kicking in at $1.94 and pushed us back into the $2 zone, however the bulls were met by the bears and we have been in battle since the 16th of Jan.
This triangle can be seen as a continue sign of the current bear trend and the bulls will have to bring a lot of buying pressure to get us to break to the topside.
This is crypto and anything can happen so it pays to be prepared.
We will wait to see what the market does before going long or short on the IOTAUSD markets.
Immediate support is at $2 - $2.2 and should that support level fail, I would expect the bearish trend to continue and consolidate into the $1 zone.
Resistance is at $2.4 - $2.6 and the bulls need to get above that to test the $3 resistance zone.
Should we break through $3 it will be smooth sailing to the $4 zone.
Follow and share if you like my trading advice, feel free to discuss this trade with our crypto trading crew.