IOTA price analysis: Flirting with long term support, on the verge of short term breakout
|- Breakout on the short term chart.
- Long term support lends helping hand.
IOTA bulls have a time to rejoice as the prices give a breakout on the short term chart, while long term support comes at the rescue after more than 50 percent crack in prices of this crypto during first half of the month.
IOT/USD is up more than 4 percent on day at $0.495, near day's high. 30-minute chart of the crypto shows that the prices are just sitting at the breakout point which, once confirmed, would give about 10 percent move on the upside.
This comes at a time when long term trendline of the crypto has been able to lend a supporting hand. This very trendline has acted as a strong resistance in the past and has been one key reason of fall in prices of IOTA.
IOT/USD 30-minute chart:
IOT/USD daily chart:
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