The bears are in control of the long-term outlook of the cryptocurrency.
$0.2500 in the demand area is on the card.
IOTA/USD Long-term Trend -Bearish
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA long-term outlook is a down-trending market. The breakdown in price at the lower demand area of the range on 10th July signaled the beginning of the downward journey. $0.4359 was the point the bears stepped in and pushed price initially down to $0.3298 and later to $0.3225 the low of the week on 11th July.
Although a retest of the broken lower price area occurred and price shot up to $0.3718, the bears’ pressure remained strong as price drops further down to $0.3230 at the close of the week.
The tweezer top formed at the closed of the week signaled…