- IOTA price surge from $1.50 to $2.12 on Thursday’s trading session
- The 24-hour volume in IOTA is at $204,402,976 with a 23.98% decrease
- The IOTA/BTC pair was trading at 0.00003399 BTC with a gain of 0.81%
The 4-hour technical chart of IOTA price forecasts a positive trend. According to pivot points, IOTA’s critical support level is placed at $1.85. Whereas if it moves up, the key resistance to watch is $2.50. While diving into the weekly chart of a 4-hour time-frame, it completes a morning star candlestick pattern representing bullish reversal with medium reliability.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above EMA-13,21 (green, yellow), which projects a positive trend. The price is sustaining above 55-EMA (red). Investors may perceive positive crossover in the EMA, and the price will also follow the positive trend.
RSI indicator (OVERBOUGHT), with a value of 59.14, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 49 to 58 in the index, and it may surge in future trading sessions.
The volume of (1.64M) represents a low buying volume which is above the Volume MA (4.37M) of 20-days. High buying pressure is required in IOTA to drive its price to higher levels.
Upgrade In IOTA Claims 60% Less Power Consumption Than Before
With the latest upgrade in IOTA network with Chrysalis, IOTA will give more performance, more stability and more security. This new IOTA protocol is more lightweight, modular and easy to use than before. This new upgrade claims to be more sustainable than before and a 60% decrease in power consumption than before.
IOTA Price Gradually Achieving Its Targets
IOTA Price traded at $2.12 with a loss of 0.34% in the last 24-hour and 25.07% up in the weekly time-frame. Furthermore, IOTA bounced from the support of $1.50. In contrast, the market capitalization stands at $5 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is sustaining above all the EMA. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $2.50 in future trading sessions.
Resistance: $2.50
Support: $1.85