At press time, the decline from $1.55 to $1.07 marked a drop of 34 percent within a week for IOTA. This was followed by BTC shedding value, with the remainder of the altcoin market also declining.
Significant levels of IOTA support were $0.97 and $0.79, while behind a bearish candle breakthrough to the downside, the $1.08 level saw good momentum.
The momentum seemed to support the bears strongly and the MACD showed the same, moving below the zero-line. It can be predicted that trading volume on any bounces would be light. A bearish re-test of the $1.08-level can be used over the next few hours to reach a short place.
With the cryptocurrency falling back under the $180-mark that LTC bulls worked to break above during January, Litecoin was unable to remain above $192.
The next important amounts of funding were $163, $149, $135, and $123. A transfer far south did not seem to be on the cards, but a $149-level test was a real chance.
To show that bearish momentum was on the rise, the RSI fell below 50. The crypto can be moved to the $170-$175 area by a bounce near $163, before coming under more selling pressure.
Over the past week, the highlighted region at $0.5 marked a strong area of demand for XEM, with the bulls bravely defending it. The losses over the previous few hours, however, were too much and the bulls were forced to withdraw.
A clear bearish trend in progress was shown by the Directional Movement Index, while the Chaikin Money Flow was moving below -0.05 to indicate nett capital flow from the market, an indication of the power of the sellers.
The next area of interest was the region of $0.42-$0.44 as potential help.
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