IOTA price analysis: IOTA token has not broken due to weak dynamics

  • The IOTA token price trend is in a downward trend over the course of the day
  • The IOTA / BTC pair is trading negatively at 0.0002317 BTC, 1.8% trading
  • The 24-hour trading volume on IOTA is $ 34.355 million

The technical daily chart of the IOTA token represents the price that was rejected by the pivot level and is moving back towards the support zones. According to trading levels, the main support level is at USD 0.65. However, when it goes up, the main observer resistance is at $ 0.95. In addition, the chart also has a bearish candlestick pattern showing negative movement with high confidence.

A moving average (MA) of 50 100 200 MA can be a reliable support for currency movements. Investors can watch the price drop below the yellow line, which will ensure a downward trend in IOTA until the price stays below MA-200.

The Schaff Trend Cycle Indicator (bullish) of 83.40 represents a buy signal on the coin and predicts an upward trend. In addition, investors see a green buy signal and the increase in the index.

The volume (383.85 thousand) shows a low turnover below the 20-day average (2.72 million). Traders are driving selling pressure in the order book to lower the price level near support zones. Investors can also see volume falling on the chart to bring big moves forward.

IOTA token price range lower low

The IOTA token is trading at $ 0.76, with a 3.2% daily loss and a 7.9% weekly decline. In addition, the lack of momentum has prevented the price from breaking above the pivot level. The STC indicator shows a sell signal and traders need to increase buying pressure. Technically, the price has no strength and remains above the support level. So, as with general market sentiment, the trend remains bearish.

Resistance: $ 0.95

Support: $ 0.65

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