Crypto Technicals: IOTA exhibits signs of near-term bearishness, close below 21-EMA confirms weakness

IOT/USD chart - Trading View

Exchange - Bitfinex

Support: 0.3990 (50-DMA); Resistance: 0.4750 (Upper BB)

Technical Analysis: Bias is turning bearish

IOTA trades 4.05% lower on the day at 0.4202 at 10:30 GMT.

Bearish signs building in the pair, scope for near-term weakness.

RSI has slipped below 50, Stochs have turned and Stochastics RSI have rolled over from overbought level.

'Bearish Divergence' on RSI and Stochs on the daily charts keeps scope for weakness.

IOT/USD has broken below 21-EMA and is on track to test 50-DMA at 0.3988.

Close below 21-EMA confirms weakness. Dip till 61.8% Fib at 0.3571 likely.

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