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Crypto Technicals: IOT/USD extends weakness below 21-EMA, bears target 0.2580

Monday, May 6, 2019 11:51 AM UTC

IOT/USD chart - Trading View

Exchange - Bitfinex

Support: 0.2580 (Apr 28 low); Resistance: 0.3005 (21-DMA)

Technical Analysis: Bias Bearish

- IOT/USD has edged higher from session lows at 0.5762

- The pair is extending weakness below 21-EMA, bias bearish

- Price action below cloud and moving averages

- Stochs and RSI are sharply lower and -ve DMI dominance adds to bearish bias

- Next bear target lies at 0.2580 (Apr 28 low). Retrace above 21-EMA negates bearish bias

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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Crypto Technicals: IOT/USD extends weakness below 21-EMA, bears target 0.2580

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