IOTA Bulls defend 50-DMA after a sharp $ 2.68 sell-off

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  • IOTA price trading came under pressure after sharp profit taking and fell below the short-term moving average of 20 DMA
  • The IOTA / BTC pair fell nearly -3.08% to hit 0.0000367 BTC but is currently trading above all major moving averages

Source: trade view

IOTA price above daily chart showing signs of relief as build up and bullish reversal bar. In defense of the 50-day moving averages, a sell-off from higher levels has been seen after hitting the new 52-week high of $ 2.68.

On the daily chart, the support is at $ 1.50 and $ 1.30, while the resistance on the higher side is at $ 2.50 and $ 2.80. The volume does not support the price dynamics. Currently, the IOTA price is successfully trading above the 20, 50, 100 and 200 DMA moving averages, indicating the positive strength of the upcoming trading sessions.

Source: trade view

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JOTA The price above the daily chart is bearish after rebounding from lower levels. Support on the daily chart is at $ 1.38 and $ 1.32. Resistance on the higher side is $ 1.80 and $ 1.56, respectively.

Currently the JOTA The price is trading at $ 2.04, with an intraday loss of -3.03%. The volume recorded over the past 24 hours is down almost -10.03% and stands at $ 397,601,882. This compares with total market cap at $ 5,714,906,199, down -3.33% intraday.

The Relative Strength Index (BEARISH) shows bearish momentum in trading at 46.12. However, it continuously tests towards the oversold zone after testing the overbought zone, which shows its bearish trend over a shorter period of time.

The moving average convergence divergence (BEARISH) is currently showing a bearish trend on the daily chart as it trades with the meaning of the seller’s line (red) above the buyer’s signal line (green) with no sign of significant recovery.

Support levels: $ 1.50 and $ 1.30

Resistance Levels: $ 2.50 and $ 2.80

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