PRESS RELEASE: IOTA Market: The Bearish Sentiment May Continue After a Slight Push

PRESS RELEASE: IOTA Market: The Bearish Sentiment May Continue After a Slight Push
April 15, 2019
Crypto Daily Roundup – Apr 15, 2019
April 15, 2019

IOTA Price Analysis – April 14

IOTA market had been moving downward for about two weeks now; posting a new year high at $0.38 before the sell-off. After touching a close support yesterday, the token encountered a bounce up which is yet to make a significant rise. As the moment, IOTA is down by 2.03% with a trading price at around $0.317 level.


Key Levels:

Resistance levels: $0.35, $0.38

Support levels: $0.3, $0.28

Following a bearish sentiment, IOTAUSD has been moving within the range of a descending channel for the past ten days after a sharp drop. The decline move is revealed on the 4-hours RSI. Yesterday, the token tested $0.3 support level, where the lower trend line rest. Now, buying pressure is slowly compounding up. A push could propel price to the $0.35 resistance level, respecting the upper trend line.

IOTAUSD, 4H Chart – April 14

A possible price break above the channel is likely to send IOTA to the next bullish move. A significant break low may slump price to a bearish condition. The key support level is $0.28. Looking at the 4-hours Stochastic RSI, the buying pressure is approaching the overbought zone. However, the descending channel remains a diagonal support and resistance lines for IOTA market.


After April opening, IOTA trend on a lower high, lower low formation as price action remains in a descending channel. Still, on the bearish move, the market is currently at an indecisive stage with choppy price action. A close support for a drop may be located at 5500 SAT level and below. As suggested on 4-hours Stochastic RSI, the token is now at the overbought zone; a potential fall is around the corner.

IOTABTC, 4H Chart – April 14

Since the bearish scenario began, the RSI has been trading below 52 level. If the bulls manage to surpass the mentioned level o the RSI, a strong buying pressure could possibly reverse trend upward. The nearest resistance level to watch out for is 6500 SAT. A successful trade above the channel could fuel IOTABTC for a bull-run.

Please note: is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

The post IOTA Market: The Bearish Sentiment May Continue After a Slight Push appeared first on – Daily Cryptocurrency and FX News .

This is a syndicated post from

Comments are closed.