IOTA Price Analysis: MIOTA’s Bearish Phase is Yet to See an End

  • IOTA consolidates around $0.25, continues to remain bearish
  • IOTA has recently traced a dip near $0.24, corrects from there
  • RSI of IOTA/USD is at 30, indicating oversold

IOTA continues its bearish spree against U.S.Dollar while Bitcoin is also pretty sluggish as the coin has breached major support level of $11,000 and was around $10,528.52, at the time of penning down.

IOTA opened yesterday with its price at $0.2592 and it saw its initial price plunge at $0.2536. The coin sharply rebounded to $0.2572 but couldn’t fight resistance above it. Gradually, the coin dropped to its key support level of $0.2500 and then again bounced back above $0.2550.

Today, IOTA has even traded below $0.2500 and had bottomed to $0.2492 with a price decline of 3.13%. The coin has corrected up from there, and is at $0.2520 at 08:20:39 UTC.

IOTA/USD Price Chart

IOTA Price Chart
IOTA Price Chart

IOTA’s current price is 31.50% lower than its 100-day SMA of $0.3679. Also, the long term SMA (100-day SMA) has just climbed above its short term SMA (10-day SMA) which indicates a downtrend.

IOTA Price Prediction & Technical Indicators:

The MACD chart for IOTA is exhibiting a downward trend. RSI is around 30, showing oversold phase for the coin. According to MIOTA Price Prediction, IOTA price may see resistance at $0.2602 and support at $0.248.

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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