IOTA Price Analysis: Bitcoin’s Nosedive Affects MIOTA, Breaks Below $0.29

  • IOTA price recently dropped with a sharp move after maintaining a stable momentum
  • IOTA loses price position above $0.30; support level near $0.29 breached
  • IOTA has tested support near 0.2848, starts correcting up

IOTA has recently witnessed a sharp fall causing it to hit the bottom near $0.28 against U.S.Dollar. Notably, the Bitcoin price has also heavily dropped below $9500 from its price above $10k.

Yesterday morning IOTA had witnessed a minor price plunge at $0.3031 and then it maintained its price range in the green zone. The coin saw a sharp price rise today at $0.3069. Till 10:17 UTC, IOTA has been remaining above $0.30, after that, IOTA has sharply dropped to $0.2848 with a decrease of 7.19% from today’s high price point.

In the last 24 hours, the coin has decreased to 5.18% as the coin is trading at $0.2887 at 11:30:07 UTC.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 24.28% lower than its 50 day SMA of $0.3813. The coin is trading under selling pressure considering the bearish impact in its price trend at present.

IOTA Price Prediction & Technical Indicators:

The MACD chart for the coin is volatile and has recently entered into bullish zone with its MACD line above its Signal line. RSI for the coin is near 50 showing no current extremities. According to market analysts and MIOTA Forecast, the coin may see resistance at $0.3061 and $0.3106 and support level at $0.2881.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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