- IOTA token prices move along the $0.90 resistance level projecting a sideways trend.
- The token price moves along with the 50-day EMA while the 20-day EMA rises higher.
- The pair IOTA/BTC trades with a fall of 0.36% at 0.00002304 BTC.
IOTA token price has been trending higher as the rise in demand became more and more frequent. As a result, the coin price successfully rose above the resistance level of $0.90.
The coin price has increased by almost 60% since the demand near $0.56 resulted in a bullish rally. However, the most important thing is that the bullish-up move helped boost the price, forming a V-shaped recovery that helped the overall bullishness grow.
The support from the 50-day Moving Average will soon push the price even higher. However, the sloping 100-day MA could generate a bearish signal. Nonetheless, investors are more greedy, which may lead to higher buying pressure.
The current price of the IOTA Token is $0.9156. The market cap has decreased by 0.36% in the past 24 hours. It indicates that the prices may fall back as it struggles to surpass the resistance level.
The coin’s intraday trading volume has fallen about 70% within the last 24 hours, which signals a fall in interest of investors that could cause a downfall.
Uptrend Sustains In IOTA Token Price Chart
If bullish momentum is maintained, investors may see a bullish rally that ranges from 30% to halfway. However, investors should not be shocked if the price falls dramatically. Technical analysis of price movement suggests that a bearish breakout would have difficulty rising higher than $1.50. However, if prices fall below the 50-day EMA, the bearish tendency could drop to $0.78 or $0.68.
Relative Strength Index indicator (bullish) indicates bullish momentum once the slope RSI crosses an oversold area.
The ADX is a sign of rising trend momentum when prices are above.
Overall, the trend continues strengthening, and the underlying bearishness is rising, according to the ADX & RSI.
Conclusion – IOTA Token Price may rise higher after it breaks above $0.90, suggesting an uptrend that may shortly result in forming a new higher high above the $1 mark.
Support – $0.78 and $0.68
Resistance – $0.90 and $1
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