Technical Analysis for IOTUSD for 19th November 2021
IOTA Bulls Struggling, Uptrend Capped Below $1.5
Past Performance of IOTA
What to Expect of IOTA
For example, the rejection of high prices below $1.50 and the double bar reversal pattern of November 17 and 18 may signal weakness in the short term.
For this reason, the odds of IOTA cooling down towards $1.10 and the $1 round number—below the rising wedge and the primary support line—look high.
IOTA Technical Analysis
Markedly, this sell bar is below the $1.5 resistance line marking October and November 2021 peaks.
In that case, IOTA may drop off to $1.10 and later $1.10 in confirmation of the engulfing bar of November 18.
Resistance level to watch: $1.5
Support level to watch: $1.10
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