MIOTA price analysis: IOTA coin jumps from 200 EMA

  • The IOTA coin price received good support from the 200-day EMA
  • The IOTA / BTC pair is trading at 0.000206 BTC with a loss of 1.88%
  • The 24-hour volume for IOTA coins is $ 53.5 million

As mentioned in my previous article on MIOTA, the IOTA coin attempted to break out of the $ 1.4 resistance on October 10th. However, the coin price was unable to hold above this level as the next bearish candle fell below this level, suggesting a fake. Since then, the price has swung between $ 1.4 and $ 1.195

Regarding the EMAs; The IOTA chart shows that the uptrend is still intact as its price is trading above the 200 EMA. However, the coin also indicates the 20 and 50 EMA that are on the verge of a bearish crossover.

The RSI value is 47, which indicates a bearish sentiment among IOTA coins.

The IOTA coin shows a head and shoulder pattern.

The IOTA coin shows a head-and-shoulders pattern in the 4-hour time frame. The cutout for this pattern is at the $ 1.19 mark and crypto traders would have an excellent short opportunity if price allows a decisive breakout from this lower support.

As per traditional pivot levels, the next resistance for IOTA price is $ 1.3, followed by 1.4. And for the opposite side, the next support of $ 1.19 followed by $ 1.12.

The MACD indicator shows that the MACD and signal lines are moving below the neutral zone (0.00), indicating the bearish sentiment in the coin.

Diploma: From a technical point of view, the IOTA coin is still in a short-term downward trend. And as mentioned above, the coin chart also showed a bearish pattern on the lower timeframe chart. Hence, crypto traders should wait for the price to break above the $ 1.19 neckline before making a short trade.

Support $ 1.19

Resistance $ 1.3

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