- The trading volume of the MIOTA Coin in the last 24hr at the time of writing this article is +33%
- The price of IOTA/BTC and IOTA/ETH at the time of writing this article is 0.00002056 BTC and 0.0002905 ETH, respectively.
- The price is taking massive support on the 100MA.
Long term view:-
In the daily chart time interval, we can see the price is near the resistance again, trying to break it for the 3rd time in the past few days. The bulls are trying their best to break the resistance but failed to do it because bears are making a supply zone near the level of $1.42, so let’s have a look at the technical indicator to see if the price will break the resistance, or the bears will take the price down to the support?.
Firstly, we can see the MACD, which is showing green histograms as the MACD line failed to cross the signal line and is still above it, but the lines are very close to each other and may cross each other with a good movement and volume. In addition to that, we can see the RSI, which is in the neutral zone near the 54, and the RSI line is pointing sideways, which means the Bulls and bears are giving each other a good fight in the order book. Lastly, we can see the Moving average as told above the 100MA is acting as a support, the 50MA is above the 20MA, and 100MA, which is a bearish sign, and the 20MA is between the 50MA and 100MA.
Short term view:-
In the 4hr time interval, we can see the price is near the resistance again after failing to break it. With the help of RSI, we can see the bears are winning the fight against the bulls as we can see the RSI is pointing towards the oversold zone of 30. Also, the RSI is in the neutral zone near 57. Having said that, the MACD is showing green histograms as the MACD line is above the signal line, but the MACD line is heading towards the signal line and may cross it to tell a sell sign to the traders.
Lastly, we can see the Moving average as the 20MA is between the 50MA and 100MA, and the 50MA is above the 20MA and 100MA.
Conclusion:-
looking at both the long-term and short-term views. We can see the price failed to break the resistance in the 4hr time interval, which may affect the daily chart interval. Also, the MACD crossed in the 4hr time interval, which is a bearish sign, so for now, the price cannot break the resistance level again, and the trend might be bearish.
Resistance:-$1.61,$1.84
Support:-$1.16,$0.98