Digital Currency Revolution Series: Bakkt And Galaxy Digital Collaboration For Bitcoin Trading & Custody Services For Institutions
Regulatory Series on Cryptocurrencies: US SEC Hammers Lobbyist CEO of AML Bitcoin With Fraudulent ICO Project
Crypto-Technicals: ETH/USD Stalls On Hanging Man, Bulls Eyeing On Breakout Of 100-EMAs, Hedging Perspectives For Upside Risks
Cryptocurrency Derivatives Series: Bitcoin Price Dynamics And Hedging Strategy Ahead of Options Expiry Season
Digital Currency Series: Ethereum Halts Bullish Rout, What Drives Commendable Rallies? Quick Glimpse At Bullish Driving Forces
Digital Currency Revolution Series: Ethereum Bulls Halt At $250 But All Set To Take-Off, What Drives Further Upside Journey?
Crypto Technicals: IOT/USD retraces above 0.20 handle; recovery lacks traction
IOT/USD chart - Trading View
Exchange - Bitfinex
Support: 0.1825 (Trendline); Resistance: 0.2034 (5-DMA)
Technical Analysis: Bias Bearish
IOT/USD snaps downside, edges higher on the day to retrace above 0.20 handle.
The pair was trading 1.88% higher at 0.2011 at 10:00 GMT, after closing 3.42% lower in the previous session.
Recovery in the pair lacks traction, technical indicators do not support further upside.
GMMA shows both major and minor trend for the pair are strongly bearish and the Parabolic SAR also supports weakness.
Price action has been capped at 5-DMA which is immediate resistance at 0.2034. Series of strong resistance aligned till 0.2080.
Scope for test of trendline support at 0.1825. Break below will open downside for the pair. Fresh all time lows then likely.