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Price Analysis

IOTA Price Analysis: MIOTA Price Trend Shows Negative Signs, Bulls Appear Far Away

  • IOTA trades sluggishly, has shown no move above $0.26 today
  • Yesterday before closing, IOTA had traced a close above $0.26, but faced rejection above it
  • The coin is below its 5-day SMA, carrying selling pressure

IOTA price was oscillating between $0.25 to $0.26 in the later part of yesterday. Investors were hoping a bullish price push today, but the coin has nosedived instead.

The IOTA price was above $0.26 and it remained above the mentioned price mark till 07:55 UTC. The coin then tumbled to $0.2586 hitting its lowest price point of yesterday. The coin then took a mild rebound as high as $0.2616 and then the price corrected back to its price range around $0.25.

Today morning the coin has sharply dropped further to $0.2565. Here, IOTA price has shown a decline of 4.63% from yesterday’s open price. At 06:59:59 UTC, the coin is trading at $0.2563 and over the last 24 hours, IOTA has decreased by 4.72%.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 30.39% lower than its 100-day SMA of $0.3682, which points out to the extreme bearish impact that the coin carries. IOTA price is trading with its price even below its 5-day SMA.

IOTA Price Prediction & Technical Indicators:

MACD chart for the IOTA price trend for a day is lowly volatile and is in bearish zone. While RSI for the coin is heading towards 30 indicating an upcoming oversold momentum. IOTA coin may face resistance at $0.2666 and support st $0.2515.

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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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