Price Analysis

IOTA Breaches the Major Support Level; Market Pressure Rules the Price

  • IOTA price descends below the major support level.
  • Intraday trading exhibits no sign of recovery.

IOTA price movement was very impressive in the first two quarters. The coin was seen touching a high at $0.55. The change in the market trend created pullback pressure and the coins started falling. IOTA was caught by the same storm. In the last 30-days, the currency touched a high at $0.303833 and a low at $0.247082.

The ongoing month started with a slight recovery. The coin was dealing at 0.273015 on November 01 and till yesterday it was seen at a high at 0.284567. Today, the coin is seen booking loss on the chart. Here, the intraday chart of IOTA is given.

IOTA to USD Price Chart:

IOTA Price
IOTA Chart By TradingView

Yesterday, Binance Coin started trading at $0.275. The price escalated to $0.284 by 3.33%. Binance Coin felt a pullback that took it down to $0.276 by 2.94%. The last few hours of the day recovered and price went up to $0.279 by 1.15%. Despite the heavy fall, the coin marked an intraday progression of 1.40%. Today, Binance Coin opened with an escalation of 1.12%. The price counters switched from $0.279 to $0.282. The price slipped and touched $0.277 by a decline of 1.88%. The price dropped to $0.264 by 4.78%.

IOTA Price Prediction :

IOTA started with a slight uptrend in the morning. The traders were eyeing for a higher level, but the currency couldn’t hold for long. The price started falling and went passed the major support level.

Here, take a look at the resistance and support level chart.

Resistance LevelPrice
R1$ 0.284639
R2$ 0.289082
R3$ 0.293598
Support LevelPrice
S1$ 0.27568
S2$ 0.271164
S3$ 0.266721

IOTA has a high prospect of giving astounding results in the future. The traders interested in the coin can earn a high dividend in the coming months. However, the current scenario of the coin is not impressive and we would suggest the traders to stay put with the investment until there is visible recovery in the coin. The same would help them in locking the profit and deteriorating the risk.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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