IOTA price analysis: MIOTA token recovers strongly up to 135%

  • The IOTA token price action is trying to gradually recover despite the huge sell-off that took place yesterday
  • The 24-hour volume in IOTA is also recovering 124% to $ 444,202,433
  • The IOTA / BTC pair traded at 0.00003340 BTC, down 20.25%.

The 4-hour chart of the IOTA token price movement shows minor signs of recovery after hitting the lower price of $ 0.55 yesterday. Depending on the pivot level, the IOTA support level is significant $ 0.90. Conversely, when it goes up, the primary resistance to watch is $ 1.55. The weekly chart of a 4-hour timeframe shows a bearish-devouring candle pattern with a large wick, describing bears in control of the coin.

RSI display (BEARISH) – Shows strong momentum with a value of 37.50 in the bearish area. Investors can observe a slope of 30 to 38 in the index. It can stay in a negative direction for the upcoming trading sessions.

The Moving Average Exponential (EMA) consists of 20-EMA and 50-EMA and serves as uninterrupted support in moving asset prices. Investors can see the yellow line trying to break the red line and the price well below the EMA lines. As long as the price is not below the EMA, this will ensure IOTA’s bearish trend.

The volume of (8.52 m) is above the volume MA (5.82 M.) of 20 days. IOTA has high buying pressure to bring the price to an excessive level.

The parabolic SAR indicates a sell-signal from May 13th until now. There are no signs of a positive trend. The buy signal cannot be seen in the graph either, which is a bad sign for IOTA investors.

IOTA token fits in with the general market sentiment

The IOTA token price was trading at $ 1.27, down 21.45% over the past 24 hours and losing 30.88% over the weekly timeframe. Additionally, IOTA price made a lower low at $ 0.55 and showed a significant rebound of up to $ 1.28 on an intraday session. In contrast, its market cap is $ 3.69 billion. Technically, investors can see that the price is below the EMA. The RSI index slopes from 30 to 37. Additionally, in future trading sessions, price movement may head towards USD 0.90 support.

Resistance: $ 1.55

Support: $ 0.90

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