Crypto Technicals: IOT/USD extends sideways along 110-EMA support, weakness only on break below

IOT/USD chart - Trading View

Exchange - Bitfinex

Support: 0.3861 (110-EMA); Resistance: 0.4081 (21-EMA)

Technical Analysis: Bias Neutral

IOT/USD extends sideways along 110-EMA support, bias neutral.

The pair finds stiff resistance at 21-EMA (currently at 0.4083) which is capping upside.

RSI is below 50 and Stochs are at oversold levels. Breakout above 21-EMA with turn in indicators will see upside.

The pair is making lower highs on the daily charts. RSI and Stochs converging nicely with price action.

On the flipside, breach at 110-EMA support will drag the pair lower. Next major support aligns at 61.8% Fib at 0.3571.

200-DMA is major support at 0.3417, break below negates any bullish bias.

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