IOTA/USDT Price Long-Term: Bearish
Key Resistance Levels: 1.2885, 1.4089, 1.6056
Key Support Levels: 0.9872, 0.7222, 0.5110
On the daily time frame, the price was in a clear uptrend before reaching a strong resistance @ 1.6056 level. The price reversed, and it seems the sellers are overwhelming the buyers by pushing the price downward.
IOTA/USDT Medium-Term Trend: Bearish
On the 1-hr time frame, we can notice that the price found liquidity around the 1.3000 level and the sellers jump in to push the price to the downside. Currently, the coin is trading within a wedge formation where the price succeeded to break it to the downside.
Sell Order @ 1.1650
TP 1 @ 0.9872
TP 2 @ 0.8138
Stop Loss @ 1.2541
Trade Safely 🙂