- The volume of the IOTA crypto has been flat for the last 24 hours.
- IOTA crypto has lost its value by more than 95% from the all-time high price.
IOTA is a DLT that runs on the Tangle, a structure that avoids the blockchain bottleneck. IOTA has two public networks: mainnet and Shimmer. IOTA was founded by four co-founders in 2015 and is led by the IOTA Foundation.
The max supply of the IOTA crypto is 4.6 Billion IOTA and it has a similar amount of total supply. The market cap value of the IOTA token is $741.676 Million, which has increased by 1.8% in the last 24 hours.
The current market cap ranking of the IOTA crypto is #81 and the traded volume value of the crypto is $20.354 Million. The volume/market ratio of the crypto is 2.58% and the fully diluted market cap of the crypto is $1.102 Billion.
The market cap dominance of the IOTA crypto is 0.041% and the all-time low price of the IOTA crypto is $0.08164. The price of the crypto has Increased by 192% since then.
IOTA Crypto Derivatives Analysis
The derivatives trading volume of the IOTA has advanced by 11.9% in the last 24 hours. The traded volume value of the crypto is $54.36M and the open interest has declined by 3.8%.
Additionally, the long/short ratio of the crypto is 0.9689 and the long liquidation of the is $64.64K.
IOTA Crypto Technical Analysis
The IOTA token price broke above the most recent swing high but failed to sustain above it. This led to profit booking in the price and it declined to even lower levels.
So, unless the price of the crypto breaks above the last swing high and sustains above it, we might get to see further increases in the trading price.
IOTA/USD Chart by TradingView
The IOTA crypto price is reflecting a golden cross of the 50-day and the 200-day EMAs on the daily timeframe.
Despite this, the price of the crypto has declined below the 50-day EMA. If the price further slips below the 200-day EMA, we might see lower levels in price in the future.
The MACD and the signal lines on the daily chart of the IOTA token are giving a sell signal and both the lines have declined below the zero level. It is also forming a bearish histogram on the charts.
Conclusion
IOTA is a DLT that runs on Tangle, a structure that faces scalability and security issues. The IOTA token price has failed to sustain above breakout levels and has lost 95% from its peak. The crypto also has low volume, market cap, and dominance. Overall, IOTA is bearish and its price could decline further.
Technical Levels
Support Levels: $0.0606900 and $0.140300
Resistance levels: $0.670300 and $0.904100
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.