MIOTA PRICE ANALYSIS: – CAN THE PRICE KEEP UP WITH THE SUPPORT OF 1 USD?

  • The trading volume of IOTA coins in the last 24 hours at the time of writing this article is + 56.70%
  • The price of IOTA / BTC and IOTA / ETH at the time of writing this article is 0.00002513BTC and 0.0003657ETH
  • Price acceptance support on the 100MA

LONG TERM VIEW: –

If we look at the chart at daily time intervals, we can see that the price is taking support near the 100MA, which is also a support level. After a long streak of bad luck, we can see the cops fight back. Let’s look at the technical indicator. First we see that the MACD is displaying a red histogram because the MACD line is the signal line and there is no sign of a change in direction.

Additionally, we can see that the RSI is in the neutral zone at 38 and pointing sideways. Lastly, we can take a look at the moving average as the 20MA and 50MA are above the 100MA, but we can see that the 20MA is headed for the 50MA and could soon cross it, which is a bearish signal.

SHORT-TERM VIEW: –

Now if we look at the graph at the 4 hour time interval, we can see that the MACD is showing a red histogram, which means that the MACD line is below the signal line, but we can see that the MACD line is close the signal line and the signal line could soon cross. Even so, we can see that the RSI is the neutral zone at 32, which is just above the oversold zone (30) and is also moving sideways like the daily charts. In the end, we can see that the 20MA and 50MA are below the 100MA and 20MA below the 50MA, which is bearish, and we can see that the price is experiencing resistance at the 20MA.

Source: – https://www.tradingview.com/x/BTOVLENm/

CONCLUSION:-

If we look at both the long and short time interval, we can see that the trend on the daily chart is bearish, but we can see the change in people’s sentiment as we can see the big green candle which means that the bulls are driving the price up, but it depends on whether the price is able to break the 20MA resistance then the trend is bullish or the bears can drive the price further down.

RESISTANCE: – $ 1.17, $ 1.29

SUPPORT: – $ 0.94, $ 0.88

Comments are closed.