IOTA Price Analysis: The MIOTA Coin Trying Hard To Sustain Above The $1.5 Mark

  • MIOTA coin displays a hammer candle at the 0.382 FIB level
  • The MIOTA/BTC pair was trading at 0.00003315 BTC with a loss of 2.62%
  • The 24hr trading volume for the MIOTA coin is $91.13 Million

The MIOTA coin experienced intense selling pressure resulting in a 16% drop on 7th September. Although the majority of coins were in the same boat, the MIOTA coin managed to sustain above crucial support of $1.5, which coincides with the 0.5 FIB level. Furthermore, the Coin price has been hovering above this level for the past few days, and the market participants need a proper follow-up candle on either side to confirm their trade.

Concerning the EMA’s, the MIOTA coin price is moving higher than the crucial EMA’s 20, 50, 100, and 200, indicating a bullish sentiment in this coin.

The RSI (BULLISH) current value is 58, indicating a bullish sentiment in this coin.

MIOTA Coin Crypto Chart In The 4hr Time Frame

The MIOTA coin in its 4hr chart displays a clear picture of the strong support the price is acquiring from the $1.5 mark. Moreover, the coin also shows a morning star pattern, providing a great entry opportunity for Crypto traders. The current price of the MIOTA coin is $1.54, with an intraday gain of 2.86%.

The moving average convergence/divergence indicator (BULLISH) shows both the MACD signal lines are moving below the neutral zone (0.00), indicating bearish momentum. However, if these lines could rise above the middle line, the traders will have a better confirmation for a price reversal.

Conclusion:  The technical view of the MIOTA coin is still bullish, as the price is still above the 0.5 FIB retracement and displays good support at this level. Thus, if the price bounces from this level, the long traders can expect the nearest target to $1.73 until the price faces strong resistance.

Support: $1.5

Resistance: $1.73

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