IOTA Price Analysis: IOTA Token Shows Sustainability Above $1.0

  • IOTA token price action is in a downtrend on the intraday trading session
  • The 24-hour trading volume in IOTA is at $93.760 Million
  • The IOTA/BTC pair was trading at 0.00003080 BTC with a loss of 8.30%

The daily technical chart of the IOTA token presents the price as sustaining below the pivot levels. According to pivot points, the IOTA critical support level is $0.65. Whereas if it travels up, the initial resistance level to watch is $1.35. The chart presents a pin bar candlestick pattern representing bullish reversal with medium reliability.

The MACD indicator gave (BULLISH) crossover above the signal line, showcasing a bullish scenario in the coin. Investors may see multiple green bars on the histogram index.

The Ichimoku Cloud, consisting of lead 1 & lead 2 with a displacement value of 1. It serves as a pivot level and a leading indicator in the asset cost difference. Investors may witness the price break below the green Moku Cloud and now float below the red Moku Cloud, so until the price resides below the red Moku Cloud, it will assure a bearish trend in IOTA.

The volume of (405.72K) is underneath the Volume MA (4.86M) of 20-days. Investors can see low trading volume in IOTA, which results in a minor correction of the intraday price.

IOTA Token Volume Is Low But Indicators Maintaining The Bullishness

IOTA token price traded at $1.12 with a loss of 2.9% daily and 11.3% negative in a week. Moreover, IOTA price action plunged after hitting the pivot level of $1.35. In contrast, market capitalization stands at $3.128 billion. Technically, investors can perceive weakness in the momentum, and the price is below the red Moku Cloud. MACD still maintains a bullish crossover. Volume is low below the MA of 20 days. Additionally, the price move can be towards the resistance of $1.35 in the upcoming days.

Resistance: $1.35

Support: $0.65