IOTAs currency price (IOTAUSDT) rose in latest intraday trading, supported by positive signals from the Stochastic after reaching **extremely oversold** levels, as it attempts to vent off that saturation. However, the price was met with resistance at the 50-period SMA, amid the dominance of the main downward trend and trading alongside a short-term descending trend line which adds to the negative pressure on the price.

Therefore we expect the currency to decline in upcoming intraday trading, as long as the resistance of 0.1647 holds on, targeting the pivotal support of 0.1393.

Todays price forecast: Bearish