Crypto Technicals: IOT/USD tests 110-EMA resistance (0.2837), decisive break above will aid near-term bullishness

IOT/USD chart - Trading View

Exchange - Bitfinex

Support: 0.2734 (55-EMA); Resistance: 0.2990 (23.6% Fib)

Technical Analysis: Bias turning Bullish

IOT/USD is extending gains for the 3rd consecutive session, bias is turning slightly bullish.

The pair was trading 2.42% higher on the day at 0.2833 at 07:30 GMT after closing 0.67% higher on Tuesday's trade.

Technical indicators on the daily charts are turning slightly bullish. RSI is now above 50 mark and biased higher.

The pair is holding above 100-DMA support and ADX is rising in support of upside.

Price action is testing 110-EMA which is stiff resistance at 0.2837. Decisive break above will confirm near-term bullish bias.

50-DMA is immediate support at 0.2749. Retrace below 50-DMA negates any bullish bias.

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