- IOTA token is facing a significant selloff from the past few trading sessions, while the coin now reaches near the oversold zone
- The coin is trading under the all vital moving averages of 20, 50, 100, and 200-DMA line while facing strong rejection of 20-DMA
- The pair of IOTA /BTC is trading under loss of -2.28% at 0.00002298 BTC, and the ratio of XRP/ETH is dealing on a negative note at 0.0003758 ETHwith a 24-hour change of 3.01%.
IOTA token is trading under all vital moving averages of 20, 50, 100, and 200-DMA lines while facing a substantial hurdle of the 20-dam line. Moreover, the technical parameters are also reached near its oversold zone, and some recovery is expected in upcoming trading sessions.
Likewise, the volume recorded is very low and needs to improve in forthcoming trading sessions. The coin continuously faces a selloff for the past few trading sessions, and the volume is declining gradually. Once iota token started to sustain above 20, 50, and 100-DMA, good volume action will push more buyers. Support on the lower side is at $0.68 and $0.62, whereas resistance on the higher side is $0.99 and $1.18.
IOTA token is trading on a bearish note with some sign of recovery
Over the weekly chart, the IOTA token is trading on a bearish note with some sign of recovery at a 4-hour time frame. However, the technical parameters project a good bounce from the lower levels as the coin reaches near the oversold zone. Moreover, the volume is a significant thing to watch, as it is near the average line and needs to improve in upcoming trading sessions. Currently, the coin is trading at $0.75 with an intraday loss of -1.52%, and the volume to market cap ratio is at 0.02077.
Relative Strength Index (oversold): IOTA token price RSI presently indicates a slightly bullish or positive trend over the weekly chart. In contrast, the RSI is heading towards the higher levels CMP near oversold levels at 43.
Moving Average Convergence Divergence (bearish) currently indicates a sideways or bearish trend on the daily chart. This is because the seller’s line (red) is overpowering the buyer’s signal line (green).
Support levels: $0.68 and $0.62
Resistance levels: $0.99 and $1.18.