Crypto Technicals: IOT/USD Technical Analysis Summary

IOT/USD chart - Trading View

Exchange - Bitfinex

Major Support Levels:
S1: 0.2796 (5-DMA)
S2: 0.2708 (55-EMA)
S3: 0.2605 (24-EMA)

Major Resistance Levels:
R1: 0.2972 (110-EMA)
R2: 0.3126 (100-DMA)
R3: 0.3284 (200-DMA)

Summary: Price has likely bottomed out and is on track for upside resumption. Volatility is rising and occurrence of 'dragonfly doji' on 19th day candle supports upside bias. Price action currently capped at 110-EMA resistance. Breakout at 200-DMA will confirm upside bias.

Guidance: Watch out for break above 200-DMA to go long in the pair. Target 1: 0.3478 (38.2% Fib)/ Target 2: 0.3850 (Apr 3rd high).

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