IOT/USD price analysis: Outlier of the day as technical bounce helps

Only gainer amid major crypto collapse.
Technical bounce in the short term.

Manoj B Rawal Independent Analyst

IOT/USD price the only gainer on Sunday trading even as all the major cryptocurrencies fell off the cliff surrounding all the news and developments that came crashing for the sector in the last few days.

IOT was up nearly 2 percent at $1.153, but still down more than 15 percent from last Sunday. The price of this digital currency got some support from oversold RSI on the daily charts in last 3 days, making it bounce and sustain it for a while.

Immediate resistance for the crypto now stands around $1.20 levels while support stands around $1.14 levels. Crossover of $1.20 would result in some more upside, though it remains to be seen if IOT would be able to prolong this bounce even as other cryptos collapse.

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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