- MIOTA coin indicates that the 20 and 100-day EMAs are poised to give rise to a bullish crossover
- The MIOTA/BTC pair was trading at 0.00002246 BTC with a loss of 1.33%
- The 24hr trading volume for the MIOTA coin is $61 Million
The MIOTA coin displays another long opportunity for Crypto Investors with the formation of a Cup-and-Handle pattern. The key resistance(neckline) for this pattern is at the $0.4 mark. On 19th August, the price took support from the $0.95 support by forming a morning star candle pattern. The price will be completing the handle portion of the pattern bringing it back to the overhead resistance.
The EMA’s show that the MIOTA coin is showing a bullish trend as its price is higher than the critical EMA’s 20, 100, and 200. The chart also shows that there could be a bullish crossover between the 20 and 100 EMAs, which will attract more buyers to this market.
The RSI (BULLISH) current value is 60, indicating a bullish sentiment in the MIOTA coin.
MIOTA Coin Crypto Chart In The 4hr Time Frame
On 19th August, the MIOTA coin ended the minor correction when the price bounced backbacked $0.95 support with a bullish engulfing candle. Thus, the coin price is continuing with its rally, which leads to another opportunity for the MIOTA coin to break out from the $1.8 mark.
The moving average convergence/divergence indicator (BULLISH) would provide a great confirmation for the above pattern as both the MACD signal lines are about to cross above the neutral zone (0.00). Moreover. The indicator also displays rising green bars on its histogram chart, supporting the bullish momentum,
Conclusion: The technical view of the MIOTA coin indicates a bullish outlook. Its price action and indicator are both positive, which is good news for trend traders looking for long opportunities in the Crypto market.
As mentioned earlier, The coin reveals a Cup and Handle pattern, which offers a great long opportunity for MIOTA traders. Therefore, If the price manages to breaks away from the neckline of this pattern, MIOTA traders could grab a strong-directional movement in this coin, providing the closest target to the $1.47 mark.
Support: $0.35
Resistance: $0.4, $.46
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