IOTA Technical Analysis: IOTA/USD big bullish pennant eyed, just a matter of time for a breakout

  • IOTA price suffered on Friday, losing further momentum after a good start to the trading week.
  • IOTA/USD moving within a big bullish pennant pattern eyed on the daily chart.

 

IOTA/USD 4-hour chart


 


Spot rate:                   0.7174

Relative change:       -0.35%

High:                          0.7518

Low:                           0.6740

 

Trend:                        Bearish

 

Support 1:                  0.6706-0.6520, chunky demand area.

Support  2:                 0.6256, 50DMA & top area on 27th August.

Support  3:                 0.5634, 100DMA.

Resistance 1:            0.7200. upper part of pennant pattern. 

Resistance 2:            0.7430, resistance on 4-hour chart

Resistance 3:            0.7945, top area 29th August & supply area. 

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