Crypto Technicals: IOT/USD consolidates break above 55-EMA, bias turning bullish

IOT/USD chart - Trading View

Exchange - Bitfinex

Support: 0.2710 (55-EMA); Resistance: 0.2918 (110-EMA)

Technical Analysis: Bias turning slightly bullish

IOT/USD was trading 2.16% higher on the day at 0.2759 at 09:30 GMT.

The pair is consolidating break above 55-EMA and is on track to extend gains.

RSI has turned and has edged above 50 mark. Stochs are also biased higher.

MACD is in positive territory and positive DMI crossover on negative DMI adds to the bullish bias.

Upside has shown a break at cloud top. Next major resistance at 110-EMA at 0.2918 ahead of 23.6% Fib at 0.2990.

Major support lies at 21-EMA at 0.2677. Break below 50-DMA (0.2572) to see downside resumption.

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