IOTA price analysis: MIOTA token shows sustainability above the USD 1.0 mark

  • The IOTA token price action bounces off the support at $ 0.90
  • The 24-hour trading volume on IOTA is $ 61.82 million
  • The IOTA / BTC pair traded at 0.0002973 BTC with a gain of 1.83%

The daily technical chart of the IOTA token shows a jump from the support level and is now trying to stay above it. According to pivot points, IOTA’s critical support level is $ 0.90. Conversely, if it rises, the main resistance observed is at $ 1.50. The chart of a 4 hour timeframe shows a doji candlestick pattern that represents neutral momentum in the coin.

The crossover of the MACD indicator (BEARISH) below the signal line shows a weak bearish momentum. Investors can watch the MACD line approach the signal line to cross positively again in the upcoming trading sessions. In addition, faded little red bars in the histogram can be observed in the index.

The exponential moving average (MA) band is made up of 8 EMA ranging from EMA 20-55 that serve as a solid support for asset price movement. Investors can see that the ribbon has tilted in the negative direction and is stretching. The price is below the band, so IOTA will ensure the downtrend until the price stays below the band.

The volume of (963.21K) is below the volume MA (8.38M) of 20 days. IOTA still maintains a low level of buying pressure, which is causing the coin to trend downwards.

The IOTA token price promotion is located under the EMA band

The IOTA token price was trading at $ 1.01 with a gain of 1.77% over the past 24 hours and a return of 17.3% over the weekly timeframe. Additionally, the IOTA price action was aided by the support of $ 0.90 and is now holding above the $ 1.0 mark. In contrast, its market cap drops to $ 3 billion. Technically, investors can perceive sustainability, but the price is below the EMA band. MACD shows a bearish crossover. The volume is below the MA of 20 days. Additionally, in the forecast trading sessions, the price movement may go towards the USD 0.90 support.

Resistance: $ 1.50

Support: $ 0.90

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