IOTA price analysis: The IOTA price could see a bearish trap in the coming days

  • MIOTA price is currently in a downtrend with a loss of 0.79% in the intraday session. The price may break support in the coming days
  • Technical indicators for IOTA point to declining price dynamics. Meanwhile, the IOTA / BTC pair has seen a downtrend, losing 0.88%.

The IOTA price is at $ 1.94 with an intraday loss of 0.8%. The price may encounter resistance at $ 2.5. On the other hand, expect a bounceback starting at $ 1.5. IOTA has seen more than 400% since the start of the year. It is currently trading over 50 and 100 Daily Moving Average. The 50MA (red line) is at $ 1.84 which is temporary support for the price. A negative transition from 50MA can be seen in the upcoming trading sessions. This could push the price down. MIOTA currently ranks 36th in the crypto version with a market capitalization of USD 5,393,367,620.07. The coin’s trading volume fell 33% in a 24-hour period. The volume to market cap ratio for the coin is 0.03, which shows a downward trend in the price.

Technical indicators point to a downward trend for the IOTA price

Source: trade view

IOTA’s weekly technical chart shows declining momentum in price. On the daily chart, the price of the coin is showing a weak downtrend. The price has formed a downward parallel channel on the daily chart. When the price breaks 15% above the parallel channel, robust upward momentum can be seen. The IOTA / BTC pair could also see a downward correction in the coming days.

The volume indicator on the daily chart is at 13.28 million with little selling pressure. If the price drops below $ 1.5, a strong downtrend can be seen

RSI (Bearish): It is currently at 48.61, which underscores its presence in the neutral zone. There is a negative slope formation in the RSI. It shows that the price could see a downward trend. The general sentiment of the RSI is bearish


JOTA The price has risen significantly in the last few months. The price is currently in a slump but may recover soon. The IOTA / BTC pair can also make a great return in the days to come. An investor should conduct due diligence prior to investing


Main support: $ 1.5

Main resistance: $ 2.5

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