IOTA price analysis: IOTA tokens are trading sideways, despite strong selling pressure

  • The IOTA token is trading with declining momentum, while it is currently exposed to a sideways trend over the monthly time horizon
  • The digital asset trades below all major moving averages of 20, 50, 100 and 200 days while the short term moving average of 20 days acts as a short term hurdle
  • The IOTA / BTC ratio is trading under pressure with an intraday loss of -4.45% at 0.00002308 BTC; while the IOTA / ETH pair is at 0.0004147 ETH with a -2.90% loss

TradingView

Due to a strong sell-off in the global crypto market, JOTA Token is also under selling pressure. The digital asset trades below all of the major moving averages of the 20, 50, 100 and 200 day moving averages. In contrast, the volume is also very low and needs to be improved in the upcoming trading sessions. Additionally, IOTA is currently trading near its 90-day lows with no signs of a trend reversal pattern. Similarly, closing day candles above 20 and 200-DMA will add confidence to the bulls with good volume action. The support on the lower side is at $ 0.62 and $ 0.49; while the resistance on the higher side is at $ 0.98 and $ 1.18.

TradingView

Over the week, horizon JOTA Token is trading sideways after a sharp correction from higher levels. While a sudden increase in volume can be seen in the 4-hour period and the technical parameters are also trading flat. You can do that with a lot of momentum, and caution with a long time is recommended at the time of going to press. Currently, the digital asset is trading at $ 0.7623 with intraday earnings of + 0.15% and a volume to market cap ratio at 0.01235.

Relative Strength Index (NEUTRAL): JOTA The token RSI is currently forecasting a sideways or flat trend above the weekly chart. In contrast, after a healthy correction from the higher CMP at 42, the RSI is trading flat.

Moving average convergence divergence (NEUTRAL) is currently showing a neutral or flat trend on the daily chart. This is because the buyer’s signal line (green) and that of the seller (red) overlap.

Support levels: $ 0.62 and $ 0.49

Resistance Levels: $ 0.98 and $ 1.18.

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