IOT/USD price analysis: Second day of gains, may gain some more
- Gains for second day.
- Rally may extend further.
IOT/USD igains for second straight among all the major cryptocurrencies on Sunday while other majors also bounce back sharply from the day lows and turned positive on the day.
On the daily chart, a quick look at the RSI, MACD and the trendline resistances suggest it has some more gains on the cards before it peters out. $1.50 and $1.76 are the key levels to watch if this rally has to gain more steam on the medium to longer term time horizon.
On intra day 15-minute chart, support now stands at $1.290 and resistsnce around $1.34 and $1.36 level.
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
More from Manoj B Rawal
