IOTA Price Analysis: MIOTA Slowly Starts to Recover After Price Loss of more than 5%

  • IOTA has recently started to move upwards after a day-long bearishness
  • The coin has found support near $0.29 and has traced a bullish trendline within the last few hours
  • MACD appears volatile and it just had a bearish crossover
  • RSI indicates to overbought momentum

IOTA is moving ahead with an uptrend since 6:00 UTC today. Before that, the coin was going through quite a bearish impact against U.S.Dollar. The recent BTC price pullback has also played a part behind IOTA’s price moves.

IOTA had its price opening with a notable surge yesterday, as the coin surged to $0.3160 from $0.3111. However, after that, the coin has gone through a steady drop while tracing a bearish trendline.

Today, the coin took a further sharp fall near $0.2978 with a decline of 5.75% as compared to yesterday’s high price of $0.3160. Here, the coin seems to have found support and is correcting upwards at present. At 11:42:40 UTC, IOTA was trading at $0.3042.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 13.18% lower than its 30 day SMA of $0.3504, while it is just above its 5-day SMA. The coin is currently under selling pressure.

IOTA’s price trend has formed a bullish trendline near $0.2979, $0.2982 and $0.2998 price points, which are anticipated to act as decent support levels. Yesterday’s bearish trendline may pose as upcoming resistance levels.

IOTA Price Prediction & Technical Indicators:

MACD for the coin is volatile and it has just passed a bearish crossover in the bullish zone. RSI for IOTA points out to the overbought phase. According to MIOTA Price Forecast, If it continues to go up, IOTA may see further resistance at $0.3126 and $0.3207 and support levels at $0.2994 and $0.2943.

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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