IOTA Price Analysis: IOTA Token Appears to be in Hibernation Mode

  • The IOTA token price trend remains sideways during the intraday
  • IOTA/BTC pair is trading positive by 2.25% at 0.00002528 BTC
  • The 24-hour trading volume in IOTA is $35 Million
Source: IOTA/USD on TradingView

The IOTA coin daily technical chart represents price is trading above support zones. According to Fibonacci Bollinger Bands (FBB), IOTA’s crucial support level is $0.72. On the other hand, if it goes up, the necessary resistance level is at $1.14. Thus, while the intraday chart completes a Bearish Harami candlestick pattern, projecting prices may soon reverse to the downside with medium reliability.

Supertrend (bearish) indicator issued a sell signal on April 24, indicating that the currency is downward. In addition, investors may notice that the price is below the red Supertrend signal, so it will guarantee the downtrend of IOTA until the price stays below the red Supertrend.

Volume of (2.345M) is beneath the MA of 20-days (2.976M). Buying pressure is high in IOTA, making its price remain towards the positive zone. Investors may also recognize descending volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The Stochastic RSI (overbought) with a value of K-95.17 D-94.15 presents a buy signal in the coin. As a result, investors may observe an inclining slant also a positive crossover in the index. It may remain in positive territory for future trading sessions. 

IOTA Token Bulls Are Losing Momentum

The IOTA token price is $0.85, a flat trend of 0.1%, and a weekly increase of 5.3%. In addition, due to a lack of momentum, price movements are struggling at support levels. However, the Stochastic RSI indicator shows buying signals, and traders should increase buying pressure. Technically, the price has no power and remains above the support level laterally. Therefore, as with general market sentiment, the trend remains bearish. 

Resistance: $ 0.95 

Support: $ 0.65