IOTA Price Analysis- August 10
Should the Bears exert more pressure, $0.253 price level may be penetrated and the price will target $0.212 level.
Resistance levels: $0.287, $0.327
Support levels: $0.253, $0.212, $0.170
IOTA/USD Long-term Trend: Bearish
On the long-term outlook, IOTA price is Bearish. The coin has been bearish for more than two weeks. The bearish momentum bottomed the coin at $0.253 price level on July 16. The Bulls pulled back the price to retest the broken level of $0.327. The Bears defended the resistance level of $0.327 and gained more momentum, pushed down the price to break down the former support level of $0.287 and the previous low level of $0.253 was reached.
The 21 periods EMA has crossed the 50 periods EMA downside, the price is trading below the two EMAs at a distance to each other which implies that bearish momentum is increasing. The Stochastic Oscillator period 14 is at 20 levels with the signal lines bending down to indicate a sell signal. Should the Bears exert more pressure, $0.253 price level may be penetrated and the price will target $0.212 level.
IOTA/USD Medium-term Trend: Bearish
IOTA price is bearish in the medium-term outlook. The coin is under the bearish pressure in the medium term. The crypto experienced a sideways movement around $0.287 price level, started from July 27 to August 05. There was a bearish breakout on August 06 and the price dropped to the demand level of $0.253.
The price is trading below the 21 periods EMA and 50 periods EMA with the former EMA below the later EMA. The Stochastic Oscillator period 14 is at 20 levels and the signal lines bending down to connote sell signal and a further decrease in price.
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