- IOTA token prices move along the $0.90 resistance level projecting a sideways trend.
- The token price moves above the 50-day EMA while the 20-day EMA moves above the price.
- The pair IOTA/BTC trades with a fall of -6.16% at 0.00002029 BTC.
As demand increased, the IOTA token’s price has been rising. As a result, it resulted in the coin price rising above the resistance level at $0.90.
Since bullish rallies began, the coin price has increased almost 60%. However, it is essential to note that the bullish-up move helped raise the price, creating a V shape recovery that helped bullishness grow.
The 50-day Moving Average supports the price and will continue to push it higher. However, the 100-day MA is moving in a downward direction and could indicate a bearish signal. Investors may be more greedy, which may result in increased buying pressure.
The IOTA Token price at the moment is $0.8964. The market cap decreased by 4.66% over the past 24 hours. It means that prices might fall again as it struggles to overcome the resistance level.
The intraday trading volume for the coin fell by 27% over the last 24 hours. It indicates that investors may be less interested in the coin and could lead it to fall.
Uptrend Struggles To Sustain In IOTA Token Price Chart
Investors could see a bullish rally ranging from 30% to halfway if bullish momentum continues. However, investors should not be surprised by a dramatic drop in the price.
The technical analysis of price movement indicates that a bearish breakout would be challenging to achieve a rise above $1.50.The bearish tendency can drop to $0.78, $0.68 if the prices fall below EMA 50 days.
The relative Strength Index indicator is bullish. It indicates bullish momentum after the slope RSI crosses the overbought zone.
The ADX signifies rising trend momentum when prices rise above.
Overall, the trend is strengthening, and the underlying bullishness is rising, according to ADX & RSI.
Conclusion – IOTA Token Price will likely rise after breaking above $0.90. That may indicate an uptrend, which could lead to a new high above $1.
Support – $0.78, $0.68
Resistance – $1 and $1.5
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