- The Iota token is struggling near the 20-day moving average and breaking through it after a long downtrend.
- The coin trades below all major moving averages on the 50, 100 and 200 DMA lines as IOTA seeks to retake the 20-day SMA line.
- The IOTA / BTC pair is trading bullish at 0.00002607 BTC with intraday gains of + 4.53%, and the IOTA / ETH ratio is CMP at 0.0003795 ETH, up + 2.67%.
The IOTA token above the monthly chart projects a sign of strength as the coin tries to reclaim 20-DMA with a slightly higher volume. The crypto asset is now trying to reclaim the $ 1 mark, also known as the 50 DMA line. Once the daily candle is above the 20, 50 and 200 DMA lines, more buyers will be drawn in in the upcoming trading sessions. The sell-on-rise trend is still intact until the coin manages to stay above the necessary level. While the monthly chart is showing a gradual rebound from lower levels, momentum is not helping volume. Support on the lower levels is at $ 0.7650 and $ 0.6800, while resistance on the higher side is at $ 1.05 and $ 1.21.
IOTA token is gradually moving towards the higher levels
On the weekly chart, the IOTA token is gradually moving towards the higher levels and the technical parameters are also moving up. In addition, the volume of the 4 hour timeframe is lower and needs to be improved in the upcoming trading sessions. The higher high and lower low project a bullish trend since the last trading session. Currently the coin is trading at $ 0.8900 with intraday gains of + 5.58% and the volume to market cap ratio is 0.01997.
Relative Strength Index (ATTENTION): Iota Token RSI is currently forecasting a caution or slight correction on the weekly chart. In contrast, the RSI is moving down from the overbought zone after a healthy rally from lower CMP 60 levels.
Moving average convergence divergence (MIXED) is currently showing a mixed trend on the daily chart. This is because the buyer’s signal line (green) and that of the seller (red) overlap.
Support levels: $ 0.7650 and $ 0.6800
Resistance Levels: $ 1.05 and $ 1.21.
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