- IOTA token prices are retesting the breakout of the $ 0.90 resistance level.
- The token price exceeds the 50-day moving average and continues to rise towards the 200-day moving average.
- The IOTA / BTC pair is trading at 0.000222 BTC with a gain of 9.26%.
Source – TradingView
The price of IOTA tokens has increased as the demand has increased more frequently. As a result, the coin price successfully rose above the $ 0.90 resistance level.
The coin price is up nearly 60% since demand sparked a bullish rally near $ 0.56. Most importantly, however, the upside movement helped kick-start the price and create a V-shaped rebound that caused the general upside movement to grow.
Support from the 50-day moving average will soon push the price higher. However, the falling 100-day MA could generate a bearish signal. Still, investors are greedy, which can lead to increased buying pressure.
Investors could see a bullish rally from 30% to 50% if bullish momentum is maintained. However, investors shouldn’t be surprised if the price drops dramatically.
The current price of the IOTA token is $ 0.8682. Market capitalization has increased + 9.57% in the last 24 hours. This suggests that the price will continue to rise as it struggles to break the resistance trendline.
The intraday trading volume of the coin has increased approximately 240% in the last 24 hours, suggesting a surge in investor interest that could spark a Monkey See Monkey Do uptrend.
Bullish transitions in the IOTA token price
The 4-hour technical chart shows that IOTA token prices have seen an increase in trading volume. This is due to both mounting bullish pressure and investor psychological greed. The current upward trend in token prices has resulted in an increase in bullish crossovers between the EMAs.
Technical analysis of the price action suggests that a bearish breakout could struggle to break above $ 1.50. However, if prices drop below the 50-day EMA, the bearish bias can drop to $ 0.78 and $ 0.68, respectively.
The Relative Strength Index Indicator (bullish) signals bullish momentum as soon as the slope of the RSI crosses an oversold area.
The ADX means an increase in trending momentum when the price is above it.
Overall, the trend continues to gain strength and the underlying bear market is increasing, according to ADX & RSI.
graduation – The IOTA token price could rise higher after retesting $ 0.90, indicating an uptrend that could soon lead to a new higher high above the $ 1 mark.
Support – $ 0.78 and $ 0.68
resistance – $ 0.89 and $ 1