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IOT/USD Long-term Trend -Bullish
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA is in a bullish trend in the long-term outlook. The bears' pressure pushed the cryptocurrency to the 61.8 fib area on 14th January as predicted in last week long-term price analysis before the bulls set in.
MIOTAUSD dropped to $0.2797 in the demand with the bullish railroad formation at the end of the trading day.
MIOTAUSD made a progressive increase as it resumes the journey north on 19th January with a breakout at the 10-EMA which was strong resistance against upward price movement with a touch at the 50-EMA.
With the stochastic oscillator pointing up at in 26% and price above the 10-EMA around the 38.2 fib area a trend continuation, the bulls may be heading to the 23.6 fib area in the long-term.
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