• The short and medium-term outlook is in the uptrend.
• Traders may consider buying at pullback with bullish reversal candlesticks as confirmation.

MIOTA/USD Medium-term Trend: Bullish

Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600

IOTA is in a bullish trend in the medium-term outlook. After a remarkable dominance that push IOTAUSD to $0.5138 in the supply area, the bulls lost momentum on 26th June. The bears returned initial broke the 10-EMA as price drops to $0.4508. Increased pressure by the bears pushed price initially to $0.43943 and further down to $0.3637 before the close of yesterday session.

The closed of the candles with wicks in the area denotes bearish exhaustion and rejection of downward price movement, hence the formation of a bullish spinning top which signaled the bulls returned.

Price was at this demand area on 25th May, hence a retest of the broken demand area after almost a month.

The coin was up at $0.4189 in the supply area above the 10-EMA after a bullish opening at $0.3868. With the stochastic oscillator signal pointing up at 24%, this is an indication of upward bullish continuation in the medium term.

MIOTA/USD Short-term Trend- Bullish

The hammer at $0.3658 in the demand area suggests a trend reversal as the bulls made a gradual return. The bulls sustained the momentum as the market opens at $0.3907 with a push to $0.4185 in the supply area above the two EMAs.

The stochastic oscillator signal points up 81% in the overbought region an indication of upward price movement in the short-term.

$0.4600 in the supply area is up for a retest as the bulls initial target as more candles opened and closed above the two EMAs.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.