IOTA Price Analysis: IOTA Coin Above $1.00 Still Unable to Suppress 200-DMA

  • IOTA coin, although recovers from the lower levels but still fails to cross the 200-DMA line acting as crucial levels for bulls 
  • The coin slipped below all vital moving averages of 20, 50, 100 and 2 00-DMA, while bulls seem less powerful overbears
  • The pair of IOTA/BTC is trading at 0.00002737 BTC with an intraday increment of +5.88%, while IOTA/ETH trading under pressure at 0.0004042 ETH dropped by -4.71%
Source:tradingview

IOTA coin price is sustaining below the central moving average of 200-DMA. However, gradual recovery from lower levels fails to test the MA of the 200-day and projects low confidence of bulls. Over the monthly chart, IOTA is trying to recover from the lower side, but the pullback is not much stronger. The short to medium-term trend is still bearish as IOTA is trading below all major moving averages. Moreover, for bullish or positive momentum, the coin needs to sustain above 200-DMA with good volume traction.

Support on the lower side is at $0.86 and $0.67; likewise, resistance on the higher side is $1.21 and $1.55. 

IOTA Coin Over the Weekly Chart is Trading Sideways

https://themarketperiodical.com/
Source:tradingview

The IOTA coin over the weekly chart is trading sideways after facing a significant selloff. The coin is trying to recover from the lower levels and now looking flat over the chart. However, the overall market is extremely volatile, and caution is suggested to bulls and bears as either side movement is expected. Presently, IOTA is CMP at $1.03 with intraday gains of +14%, while the volume to market cap ratio is at 0.05913. Similarly, the coin is established at 38th rank with a total market capitalization of $2,965,888,182.  

Relative Strength Index (NEUTRAL): IOTA presently projects neutral or sideways momentum with no sign of clear momentum.  

Moving Average Convergence Divergence (CAUTION) currently indicates a bullish trend on the daily chart. The buyer’s signal line (green) is more significant than the seller’s line (red). 

Support levels: $0.86 and $0.67

Resistance levels: $1.21 and $1.55. 

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction. 

This news is republished from another source. You can check the original article here

Be the first to comment

Leave a Reply

Your email address will not be published.


*