Price Analysis

IOTA Price Analysis: MIOTA Goes All Bearish, Breaks Below Major Support Levels

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  • IOTA extends yesterday’s bearish price trend, approaches $0.2500
  • The coin went above $0.27 yesterday, but could not fight resistance there, and returned down
  • IOTA has breached major support levels near $0.2700 and $0.26, traced a bearish trendline

Market cap of the overall crypto space shows a notable increase over a day, though IOTA has been trading quite bearishly against U.S.Dollar since yesterday. The coin has recently slipped even below $0.26.

IOTA kick-started yesterday morning with its price at $0.2616 and it maintained an uptrend till it hit the price point above $0.27. At 18:33 UTC yesterday, the coin reached as high as $0.2718 and pulled back to $.2684. The coin again went up to $0.2712, but couldn’t fight resistance above.

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After that, IOTA has not been able to move upwards and tumbled gradually. The coin traced two lower highs at $0.2687 and $0.2659. After the second lower high, IOTA has heavily dropped while breaking major support levels near $0.2600.

At 09:32:15 UTC, IOTA price is as low as $0.2592 while noting a price decline of 0.91% over a day.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 29.64% down as compared to its 100-day SMA of $0.3684. The price scenario points out to the extremely bearish nature of the coin right now.

IOTA Price Prediction & Technical Indicators:

The MACD chart of IOTA is in positive zone and it just had a bearish crossover. RSI for the coin is near 50 showing no extremities. The coin may face resistance at $0.2738 and support at $0.2522.

Ruti Vora

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

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