IOTA Price Analysis: MIOTA coin struggles to break above USD 1.30 support

  • The IOTA coin price is in a downward trend of around 2.8% during the intraday trading session.
  • The 24-hour trading volume is $ 100 million.
  • The IOTA / BTC pair is trading negative at -4.5% at 0.00003008 BTC.

The daily technical chart and the price trend of the IOTA coin show a downward trend. Based on the pivot plane is the first support zone 1.10 USDT. From a different perspective, when the going is urgent, that is the resistance level to watch 1.75 USDT. Thus, the graph formed a bearish harami candlestick pattern yesterday and cost will be relied on to stay down with unwavering medium force.

The Moving Average Exponential (EMA) Ribbon, consisting of various Emas, serves as a solid support for the price movement of the coins. Investors might notice that cost is battling the green ribbon so it guarantees the IOTA coin to rebound until it is above the ribbon.

Trading volume (8,358 million) is below the 20-day moving average (40.013 M.). To be clear, the volume is low, which makes the cost war on the support levels difficult. Investors can also check to see if the volume bars on the graph are slanted, indicating that exceptional instability is normal on the following trading days.

The RSI indicator gave a signal (bearish) with 45, which projects a sell-signal into the coin. Investors can see a declining slope from 50 to 45. It can fall in future trading sessions.

IOTA coin price movement suffers from bear hunting

IOTA costs $ 1.36 today and has a 24-hour trading volume of $ 100,462,975. MIOTA prices have fallen by -2.8% in the last 24 hours. The circulation of MIOTA coins is 2.8 billion and the total stock is 2.78 billion. The RSI indicates a sales note and traders have caused a low volume. In fact, the costs are struggling at the support level. Similarly, with the general market outlook for the trading days ahead, the pattern remains bearish.

Resistance Level: $ 1.75

Support Level: $ 1.10

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