- The IOTA coin is experiencing a sharp sell-off correction from the higher side after the decline in the global crypto market.
- The digital asset on the monthly chart cannot hold its short to medium term moving averages of 20, 50 and 100 day lines while struggling to hold its 200 DMA lines.
- The IOTA / BTC pair is trading at 0.00002102 BTC with an intraday loss of -6.15%, and the IOTA / ETH ratio is CMP at 0.000308 ETH with a 24 hour change of -7.73 %.
JOTA The coin price is struggling near its major moving averages of 200-day lines. In contrast, it cannot hold short to medium term moving averages of 20, 50 and 100 day lines. The volume on the monthly chart is lower and needs to grow strongly in order to have a strong surge in the upcoming trading sessions. The IOTA token is currently trading sideways above the monthly chart and is now trying to break lower loss levels. The overall trend is still neutral and requires a clear directional preview while the volume is even lower. Support on the lower side is at $ 1.10 and $ 1.00, while resistance on the higher side is at $ 1.49 and $ 1.71.
The IOTA coin is moving towards the oversold zone after a sharp decline from the higher levels
JOTA Coin on the weekly chart is moving towards the oversold zone from higher levels after falling sharply. Meanwhile, volume activity is increasing above the chart and a near-term rebound is now expected. The sales volume above the chart is increasing and has to improve a lot in terms of sustainability on the higher side. The IOTA price is trading at $ 1.24 with a -10.86% intraday decline and the volume to market cap ratio is 0.04528.
Relative Strength Index (OVER SOLD): JOTA coin The RSI is trading near the lower or oversold zone on the weekly chart. In contrast, the coin is trading near the bottom of the sideways pattern, RSI at 34.
Moving average convergence divergence (BEARISH): The daily chart projects a negative trend in the 4 hour timeframe. At the same time, the seller’s line (red) overlays the buyer’s signal line (green) with a negative crossover.
Support levels: $ 1.10 and $ 1.00
Resistance Levels: $ 1.49 and $ 1.71.
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