IOTA price analysis: This fall has imminent support, but long term picture looks thorny

  • IOT falls biggest among the major cryptos.
  • Immediate support around, long term still bearish.

IOTA prices crashed the largest among the major cryptocurrencies in the weekend trading but solace for the bulls lies in the fact that there’s imminent support nearby and some bounce from there, is expected.

IOT/USD is down more than 7 percent on day at $1.530, falling hard from day’s high of $1.64980. Bulls have some hope from a descending trendline support on the 180-minute chart, that has support just under $1.50 mark and some relief rally or a small bounce from there can be expected.

Although, a quick look at daily chart suggests this bounce may not last and further dips towards April lows can be expected.

IOT/USD 180-minute chart:

IOT/USD daily chart:

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