- RSI is at 63 and heading toward the overbought zone indicating buying momentum.
- IOTA coin price trades over the significant moving averages showcasing a bullish trend.
IOTA (IOTA) crypto price has witnessed positive momentum since October and recorded a 52-week high of $0.3721 on December 03, 2024, with a gain of 147%. The IOTA price has been rising by taking support on an inclining trendline.
For the beginning of December, the sellers have dominated and have declined by facing resistance from the trendline. Currently, the IOTA price has approached the trendline from where it is repeatedly rejected.
The current market price of IOTA is $0.2731 which has dropped by 3.39% in the last 24 hours. The market capitalization of IOTA is $856.62 million and the trading volume is $47.67 million which has surged by 30.80% in the last 24 hours. The total and circulating supply of IOTA is 3,133,816,726 IOTA with a fully diluted market cap of $899.77 million.
IOTA Crypto Price Has Formed a Flag and Pole Pattern
The IOTA price on the daily charts has shown a lower low swing and has had a correction from the highs of $0.3800 in the past few weeks. Furthermore, the token has yet to confirm the breakout with a significant jump in buying volume, awaiting a reliable breakout by the investors. Although the trendline was breached, it is still necessary to replicate positive upside signs.
On a daily time frame, the IOTA crypto price has formed a flag and pole pattern. Since the beginning of February, the IOTA price has been defending the 100-day moving average but bulls managed to break out from the flag pattern.
As per the technical chart, the IOTA coin price pulled back after the breakout. If the price enters the $0.300 hurdle with strong volume then buying momentum can be expected and it may achieve $0.330 in the next few days.
On the other hand, if the IOTA crypto price faces resistance from the $0.300 hurdle and reaches the $0.260 mark, it may easily melt to the 100-day EMA. but, if the price fails to defend the significant moving average, a sharp negative momentum can be observed and may enter the channel, leading to a bearish trend.
IOTA Price Prediction FAQs
What is the IOTA price prediction today?
The IOTA price is predicted to gain 0.00% to reach $0.278 by today.
What is the IOTA coin price forecast for tomorrow?
IOTA’s price is forecasted to drop 2.72% to reach $0.270 by tomorrow.
What is the IOTA price prediction for this week?
According to our analysis, the IOTA crypto price is predicted to remain neutral and may range between $0.300 and $0.250.
What is the current IOTA price sentiment?
The current IOTA price prediction is bullish according to our technical analysis.
Conclusion
Based on the technical analysis and price predictions, the IOTA crypto price is currently experiencing a bullish trend. However, there is a possibility of a pullback if the price faces strong resistance at the $0.300 mark. The IOTA price is predicted to remain neutral this week and may range between $0.300 and $0.250.
Technical Levels
Resistance: $0.290 & $0.330
Support: $0.240 & $0.200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.