- IOTA coin price looks strong and seems ready for a giant upside, while it is supported by 20 & 50-short term moving averages (SMA)
- The coin has the strong support of 50-DMA, where aggressive buying is seen, whereas 20-EMA act as short term support
- The pair of IOTA/BTC is trading positively at 0.00003831 BTC with an intraday gain of +5.63%
The IOTA coin price looks bullish over the monthly chart, despite some weakness in the short term. The coin is in solid bullish momentum while creating higher highs and lower low patterns. IOTA also supports 50-day exponential moving averages (EMA), and a good buying interest is observed. The coin is presently trading above all moving averages of 20, 50, 100 and 200-day, but the coin can witness a short-term pullback. Moreover, volume over the monthly chart needs to improve, which is slipped below the average line. However, the overall long term chart is still in favour of bulls. Support on the lower side is at $1.88 and $1.65; likewise, resistance is $2.40 and $2.70.
Sideways or Mix Trend is Expected
IOTA coin price over the weekly chart is trading with a rising trend line and projecting a bullish momentum. However, a short term correction till the SMA of 20-day can be seen, and the coin can retest the rising trend line. Similarly, all technical indicators are projecting sideways or mix trends in the short term. Support on the weekly chart is at $2.10 and $2.00, whereas the $2.30 and $2.44 is acting as resistance. Presently, the coin trading at $2.24 with an intraday gain of 4.87%, while volume jumped nearly +17.67%, standing at $206,687,119. The total market capitalization stands at 30th position with intraday gains of +4.76%, standing at $6,258,693,739.
Relative Strength Index (NEUTRAL) indicates sideways or neutral momentum while trading at 55.62. However, a sideways or flat trend is expected in the short term.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a mixed trend daily. IOTA is trading on a mixed note where the seller’s line (red) and the buyer’s signal line (green) overlap each other.
Support levels: $1.88 and $1.65
Resistance levels: $2.40 and $2.70.