IOTA bulls managed to hold on to the critical support line on Saturday which was essential for the crypto to stay in the race of bouncing back, is up and away on Sunday and will now face another key test in the form a resistance line that would requiqre some force to cross. IOT/USD up about 13 percent on day at $0.956 after hitting as high as $1.026.

On the 480-minute chart, the price now faces strong resistance in the form of a descending trendline at $1.04, just above the day’s high. The clawback after the high is a sign that IOTA bulls need this momentum with even more vigour and force to cross beyond the barrier line, support for now stands at $0.92.

rex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex. Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors.

The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market.

There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Read more from forexcrunch.com…

thumbnail courtesy of forexcrunch.com