Price Analysis

IOTA Price Analysis: MIOTA Starts a Slow Rebound, Climbs Above $0.26

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  • IOTA has recently started an upward price move from $0.2539
  • Yesterday’s price fall took a break at $0.2504 before closing
  • Currently the coin is steadily moving above $0.26

IOTA is currently tracing an uptrend against U.S.Dollar and apparently, it may trade above $0.26 stably. It is anticipated that the recent price rise is due to the recent rebound in Bitcoin along with major altcoins such as XRP and ETH.

Yesterday morning price movements of IOTA were noticeably bearish and it caused quite a loss in its valuation. The coin was above $0.26 till 10:33 UTC yesterday. The coin had even hit the price point near $0.2686. The coin gradually dropped to $0.2502 at 20:35 UTC, where it found a support. After a bit more turbulence, the coin struck a mild rebound and reached $0.2575.

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After a correction, the coin saw a dip at $0.2539 and then surged above $0.26. At 10:07:34 UTC, IOTA is at $0.2611.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 29.16% lower than its 100-day SMA of $0.3686 which points out to its extremely bearish phase. If the coin continues to move upwards, it may soon trade above its 5-day SMA. the coin is carrying a prolonged selling pressure.

IOTA Price Prediction & Technical Indicators:

IOTA’s MACD chart is volatile enough and is in bearish zone, while its RSI indicator appears near 50 showing no extremities. The coin may see resistance at $0.2841 and support at $0.2357.

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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