Manoj B Rawal
Independent Analyst
- Only gainer amid major crypto collapse.
- Technical bounce in the short term.
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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin active addresses hit lowest level in five years, BTC ranges below $67,000
Bitcoin (BTC), the largest asset by market capitalization, has noted a decline in its active address count per data from Glassnode. A decline in active addresses is typical at a time during a surge in Bitcoin transaction fees.
SEC vs. Ripple lawsuit update: Regulator responds to letter regarding Terraform Labs judgment
Securities and Exchange Commission (SEC) responded to Ripple’s letter that quotes the reasons for the settlement amount being unreasonable. The payment firm had proposed a fine of $10 million, as opposed to the SEC’s $2 billion.
Gemini Earn creditors could recover their funds in coin as New York Attorney General recovers $50 million
Gemini exchange had terminated its Earn program after Genesis Global Capital did not return over $900 million in assets that it owed to the platform. New York Attorney General Letitia James’ office has recovered a total of $2.05 billion from the platform.
Here’s what you need to know about LayerZero ZRO token airdrop
LayerZero Labs CEO Bryan Pellegrino released details of the upcoming ZRO token airdrop in a recent tweet. ZRO total supply is 1 billion of which 23.8% will be directly allocated to the community and builders. LayerZero announced June 20 as a key date, it remains unclear whether this is the airdrop or entitlement date.
Bitcoin: Has BTC found a local price bottom?
Bitcoin (BTC) price looks set for a mild fall this week, weighed by slight outflows in the US spot ETFs and the US Federal Reserve (Fed) keeping a hawkish interest-rate outlook despite easing inflation. Technical indicators suggest that BTC could face a further 5% correction in the short term before resuming the uptrend.