Price Analysis

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. IOTA price may see resistance at $0.2602 and support at $0.248.


Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
Event Information
Event Information
Back to top button