Price Analysis

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

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  • 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.

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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. 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 world's leading digital currencies. She holds graduate degree in journalism.

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