Crypto Technicals: IOT/USD recovery capped at 21-EMA, bias bearish

IOT/USD chart - Trading View 

Exchange - Bitfinex

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

Technical Analysis: Bias Bearish

- IOT/USD trades 4.02% higher on the day at 0.2913 at 1025 GMT

- Recovery in the pair is capped at 21-EMA resistance at 0.2986

- Price action below cloud and moving averages, upside only on break above 21-EMA

- 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 

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