IOTA price analysis: Bears have a strong influence on the IOTA token

  • IOTA token continuously showing the weakness while failing to hold above the prominent 200 day moving average
  • The crypto asset is moving towards the final support zone from $ 0.97 to $ 0.82 on the monthly chart.
  • The IOTA / BTC pair is trading under pressure with an intraday loss of -6.84% at 0.00003306 BTC; while IOTA / ETH CMP is at 0.0004348 ETH with an intraday correction of -6.70%

The coin above the monthly chart is moving towards the strong support zone and cannot hold above the 200-day moving average (DMA). However, the bears have a firm grip on the coin as it is constantly being rejected by the 20-DMA. In the meantime, IOTA can bounce back from the strong support zone and a robust pullback can be seen from lower levels.

The volume above the monthly chart is emerging and falling below the average line, which will improve in the upcoming trading session. Lower support levels are $ 0.97 and $ 0.84; likewise the resistance at the higher levels is 1.35 USD and 1.75 USD.

IOTA coin trying to recover

The IOTA coin above the weekly chart is now trying to rebound from lower levels after experiencing a strong sell-off. Whereas the technical parameters also indicate weakness and are now close to the oversold area. The volume is also flat with no significant change and improves in the coming trading sessions. IOTA is currently trading at $ 1.09 with an intraday loss of -14% at the time of publication. Similarly, the volume to market cap ratio is 0.04409 and the total market cap is $ 3,092,878,657.

Relative Strength Index (BULLISH): The IOTA-Coin RSI is trying to recover from the higher levels after a strong correction and is now reaching the oversold zone.

Moving average convergence divergence (BEARISH) currently indicates a bearish trend on the daily chart. Trade with the meaning of the seller line (red) above the buyer’s signal line (green).

Assistance levels: $ 0.97 and $ 0.84 per year

Resistance Levels: $ 1.35 and $ 1.75.

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