IOTA Coin Insane Bullish Momentum Hits $2 Mark, Is $3 Will be Next Target?

• IOTA coin Projecting a solid comeback of bulls over the monthly chart, with strong volume activity. 
• The crypto asset at the chart is placed above all vital moving averages of 20, 50, 100, and 200-day lines; with recent buying action, a positive crossover is also seen. 
• The pair of IOTA /BTC is trading on a strong bullish note with an intraday gain of +16.85% at 0.00003659 BTC, and the ratio of IOTA /ETH is dealing with a good increment at 0.0004704 ETH with a 24-hour change of +17.48%. 

IOTA coin at the monthly chart is trading on a strong bullish note with insane growth from the lower levels. The crypto asset has formed a bullish engulfing candle at the monthly chart and given a strong breakout over the previous day’s highs. Moreover, the tremendous growth over the volume part is also seen, which helps bulls hit the $2.00 mark after a long time horizon.

The technical parameters also reach the overbought zone, and the pullback should be utilized for the new entry. The sustainability above major DMA lines of 20, 50, 100, and 200-day will create more positive momentum until $3.00. Support on the lower side is at $1.4500 and $1.2430, whereas resistance on the higher side is $2.1425 and $2.45. 

IOTA coin at the weekly chart is facing pullback from the higher side

IOTA coin at the weekly chart is currently facing pullback from the higher side, after a strong bullish rally from lower levels. The technical parameters also reach the overbought zone, and the pullback can be used to make a new entry. Volume action over the 4-hour chart is still needed to grow to sustain on the higher side. Currently, the coin is trading at $1.79 with an intraday gain of +13.82%, and the volume to market cap ratio is at 0.1546. 

Relative Strength Index (CAUTION): IOTA coin RSI presently indicates a slight caution after a strong bullish trend over the weekly chart. In contrast, the RSI is heading lower after testing the overbought zone and CMP at 67.    

Moving Average Convergence Divergence (CAUTION) indicates a caution on the daily chart. This is because the buyer’s buyer’s signal line (blue) overpowers the seller’s line (red), heading towards the seller’s line of negative crossover. 

Support levels: $1.4500 and $1.2430

Resistance levels: $2.1425 and $2.45.