- The trading volume of IOTA coin in the last 24hr at the time of writing this article is +56.70%
- The price of IOTA/BTC and IOTA/ETH at the time of writing this article is 0.00002513BTC and 0.0003657ETH
- Price taking support on the 100MA
LONG TERM VIEW:-
Looking at the chart in daily time intervals we can see that price is taking support near the 100MA which is also a support level. After a long losing streak we can see the bulls fight back. Let’s have a look at the technical indicator, first we can see that the MACD is showing a red histogram as the MACD line is the Signal line and there is no sign of the direction change.
In addition to that we can see that RSI is in the neutral zone near 38 and pointing sideways. Lastly we can have a look at the Moving average as the 20MA and 50MA is above the 100MA but we can see the 20MA is heading towards the 50MA and it may cross it soon which is a bearish signal.
SHORT TERM VIEW:-
Now looking at the chart in the 4hr time interval we can see the MACD is showing a red histogram, meaning MACD line is below the Signal Line but we can see the MACD line is close to the Signal line and it might cross the Signal line soon. Having said the we can see the RSI is the neutral zone near 32 which is just slightly above the oversold zone (30) and it is also sideways like daily charts. In the end can see that the 20MA and 50MA is below the 100MA and 20MA is below the 50MA which is bearish and we can see the price is taking resistance on the 20MA.
CONCLUSION:-
Looking at both long and short time interval we can see the trend is bearish in the daily chart but we can see the change in the sentiment of the people as we can see the big green candle which means the bulls are pushing the price up but it depends if the price is able to break the 20MA resistance then the trend bullish or else the bears can drive the price down more.
RESISTANCE:- $1.17,$1.29
SUPPORT:- $0.94,$0.88