IOTA Price Analysis: IOTA Coin Bulls Struggling Near $1.00 Mark

  • IOTA coin is trading on a bearish note and also slipped below the all vital moving averages of 20, 50, 100 and 200-Day
  • The digital asset is trading below the significant moving average of 200-DMA with very low volume action.
  • The pair of IOTA/BTC is trading at 0.00002819 BTC with intraday gains of +0.98%; whereas, the pair of IOTA/ETH is CMP at 0.0004521 ETH while dropped over -1.10% in the last 24-hours

IOTA coin price is trading below the significant moving average of 200-DMA. However, no sign of sizable recovery from lower levels is expected at the current time. The sustainability above 200 and 20-DMA will give confidence to bulls. Over the monthly chart, IOTA is trying to recover from the lower side, but the pullback is not much stronger. The short to medium-term trend is still bearish as IOTA is trading below all major moving averages. Moreover, for bullish or positive momentum, the coin needs to sustain above 200-DMA with good volume traction. Support on the lower side is at $0.89 and $0.67; likewise, resistance on the higher side is $1.21 and $1.55.

IOTA Coin Trying to Rebound From Lower Levels

Over the weekly chart, IOTA coin is trying to recover from the lower levels after facing a significant selloff. The coin struggles near the $1.00 mark on the weekly chart, now looking flat over the chart. However, the overall market is extremely volatile, and caution is for bulls and bears as either side movement is expected. Presently, IOTA is CMP at $1.01 with intraday gains of +2.03%, while the volume to market cap ratio is at 0.01847. Similarly, the coin is at 37th rank with a total market capitalization of $2,851,618,201.  

Relative Strength Index (NEUTRAL): IOTA coin presently projects neutral or sideways momentum over the chart with no sign of clear momentum.  

Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart. The buyer’s signal line (green) is about to suppress the seller’s line (red), creating positive momentum. 

Support levels: $0.89 and $0.67

Resistance levels: $1.21 and $1.55.  

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