IOTA Price Analysis: MIOTA Token Gradually Moving Towards $2.50

  • IOTA token price bounced back from $1.50 to $2.15 on Thursday’s trading session
  • The 24-hour volume in IOTA is at $205,309,899 with a 26.40% decrease
  • The IOTA/BTC pair was trading at 0.00003966 BTC with a gain of 0.91%

The 4-hour technical chart of IOTA token price forecasts a positive trend. According to pivot points, IOTA’s critical support level is placed at $1.50. Whereas if it moves up, the key resistance level to watch is $2.50. While diving into the weekly chart of a 4-hour time-frame, it completes a Doji candlestick pattern representing neither bulls nor bears could gain the upper hand.

EMA- (20,50) acts as another strong support in the coin. EMA-20 (blue) flies above EMA-50 (purple), which projects a positive trend. The price is sustaining above EMA-20 (blue). Investors may perceive positive crossover in the EMA, and the price will also follow the positive trend.

RSI indicator (BULLISH), with a value of 68.58, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 41 to 56 in the index, and it may surge in future trading sessions.

The volume of (41.94M) is below the Volume MA (45.83M) of 20-days. High buying pressure is required in IOTA to drive its price to higher levels.

IOTA Token Price Action Bounces Up From EMA-50

IOTA token price traded at $2.15 with a loss of 0.93% in the last 24-hour and 2.97% up in the weekly time-frame. Furthermore, IOTA bounced back from the support of $1.50. In contrast, the market capitalization stands at $5.98 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the EMA-20. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $2.50 in future trading sessions.

Resistance: $2.50

Support: $1.50

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