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IOTA Price Analysis: MIOTA Crypto Breaks Down 10% Within a Week

  • IOTA crypto price struggles below the EMA-200 on the intraday session.
  • The 24-hour trading volume is at $95 million.
  • IOTA/BTC pair is trading negative by -0.1% at 0.00391251 BTC.

Moving Average (EMA) containing 20,50,100,200 In the IOTA crypto daily price chart, it is reliable support for currency price change. Investors can observe that price moves below the yellow line and can guarantee a bearish trend as long as costs are below the 200-day moving average.

The volume (6.303 M) is below the 20-day moving average (24.124 M). The volume is descending, so the cost has toiled for several days. Investors may also witness a drop in volume. This indicates that remarkable changes are hoped for in the subsequent trading days.

IOTA Crypto Price Action Under Bears Grip as Indicator Suggests

The daily price chart of the COMP crypto slips below the $1.10 Support. Relying on the price activity, the support area is within $1.10. If the price fails to hold above it, the following support to look out for is $0.85. On the flip side, the resistance level to look for is around $1.25.  

The RSI showed a 33 (bearish) sign with a short-term sell signal. Investors may observe that the indicator’s RSI line is running downside. A plunge can happen on upcoming trading days.

The MACD shows a (bearish) cross below the signal line on November 12, indicating a sell signal for the crypto. In addition, investors can see red bars in the histogram indicator.

Conclusion

Compound price today is $185.25 with a 24-hour trading volume of $96,064,073. COMP price is down -3.6% in the last 24 hours. It has a circulating supply of 6.3 Million COMP coins and a total supply of 10 Million.

The RSI and MACD indicate a sell signal. Traders have directed low volume. In fact, the cost breaks below the support zone. A market overview also shows that this pattern will continue to plunge in the coming trading days.

Resistance Level: $1.25

Support Level: $0.85

DISCLAIMER

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Categories: News
Nikhil Ingole: Mr, Nikhil Ingole is a Chief Editor at The Market periodical with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.