# Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2726
Published: 2019-07-22T11:47:47.000Z
Updated: 2019-07-22T11:47:47.000Z
Section: Investing

> Support: 0.2741 (May 8 low), 0.2715 (88.6% Fib), 0.2565 (trendline)

[IOT/USD](<https://www.tradingview.com/symbols/IOTUSD/>) chart - Trading View

Exchange - Bitfinex

Technical Analysis: Bias Bearish

Support: 0.2741 (May 8 low), 0.2715 (88.6% Fib), 0.2565 (trendline)

Resistance: 0.3386 (200-DMA), 0.3571 (61.8% Fib), 0.3719 (converged 55 and 110 EMA)

IOT/USD is extending weakness for a second straight session, trades 2.92% lower at 0.3065 at 11:00 GMT.

Recovery in the pair was capped shy of 200-DMA and doji at highs dents upside.

Price action has slipped below 5-DMA and scope for downside resumption on break below 200H SMA.

55-EMA is offering stiff resistance on the 4H charts. Price action has resumed downside after consolidating below.

Break below 200H SMA (0.3025) will see test of 88.6% Fib retracement at 0.2715 ahead of 0.2351 (Apr 26 low).

On the flipside, breakout above 200-DMA negates bearish bias.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).



## Links in this article

- [IOT/USD](https://www.tradingview.com/symbols/IOTUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)