IOTA Price Analysis: MIOTA Manifests Positive Move Over Last 4 Hours Despite Bearish Market

  • IOTA has broken major resistance near $0.28
  • The coin kept hovering around $0.27 until now
  • Recently IOTA has surged above $0.28
  • The coin is trading under selling pressure

Since the last few days, the crypto market has been quite bearish including Bitcoin, the topmost cryptocurrency which has not been able to trade above $10,000 after major price plunge on 27th July.

Today, from 2:48 UTC, IOTA has been trading below $0.28 but within the last 4 hours, IOTA has taken an upward price momentum. 4 hours ago, the coin was as low as $0.2778 and ranged between $0.2770 to $0.279. At 10:50 UTC, IOTA has struck a steady surge causing it to climb above $0.28.

It was an increase of 1.65% at $0.2819. IOTA then pulled back at $0.2799 and again corrected up above $0.28. At 11:43:19 UTC, IOTA price was at $0.2819.

IOTA/USD Price Chart   

IOTA Price Chart   

IOTA’s current price is 15.67% lower than its 30-day SMA of $0.3343. Also, the coin is approaching its 5-day SMA. IOTA, since many days, is trading under selling pressure.

Technical Indicators:

MACD chart for IOTA is lowly volatile, while is in the bullish zone. RSI for the coin is near 70 showing overbought momentum. According to IOTA Price Forecast and analysis, IOTA may see further resistance at $0.2887 and $0.2931 and support level at $0.2800 and $0.2757.

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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