IOT/USD Long-term Trend -Bullish
Supply zone: $1.6000, $1.8000, $2.0000
Demand zone: $0.800 $0.4000, $0.2000
IOTA resumes in a bullish trend in the long-term outlook. The bears took over from the bulls after a high of $1.1409 in the supply area and pushed price further down to $0.9291 in the demand area.
Looking left of the chart, you can see that the coin was at this demand area between 1st -10th April and 22nd-30th June. These areas are called ORDER BLOCK. In this scenario, buying orders are expected to be filled which may lead to upward movement of the cryptocurrency in the long-term.
Likewise, price has made three touches on the trendline and the fourth touch is developing. At the fourth touch price may breakout to the upside leading to upward movement in price of the coin, $1.1721 may be the bulls immediate target.