IOTA: Price Analysis, July 09

IOTA/USD

Our trade on IOTA is in the red. For the past two days, the bulls have been struggling to scale above the 20-day EMA, which is a negative sign. Though the coin is finding support at the $1 mark, a failure to move up within the next couple of days increases the chance of a breakdown.




IOTA/USD




The 20-day EMA has flattened out, which shows that the momentum on the downside has abated. The IOTA/USD pair will gain strength if it sustains above the $1.26 levels.

On the downside, if the $1 level breaks, a retest of $0.9150 is likely. We suggest holding the current positions with the stops just below the June 24 lows. We shall trail the stops higher at the first available opportunity.

One thought on “IOTA: Price Analysis, July 09

  1. A bit suiesrrpd it seems to simple and yet useful.

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