IOTA Price Analysis: Breaks Crucial Support Level Of $0.20, Bears May Provide Significant Downfall

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • IOTA is going with the flow along with the market as it is rising when the market does and collapsing alongside with it.
  • IOTA/BTC pair is also showing negative signs with a loss of -0.77% bringing the level to 0.00002495.

Source: Coin360

On the 7 days weekly chart, IOTA started with $0.195759 with a bullish approach, and it went up to $0.200939 today’s highest point. Then gradually start suffering the ups and downs of the market.

The support level of $0.195759 tried its level best to support the altcoin but eventually, it failed when coin acquired a heavy bearish flow.

IOTA Technical Analysis

The technical chart shows many fluctuations in the price of IOTA on the following day. This up and downstate of IOTA’s chart ended in a negative manner.

The technical oscillator ended on neutral zone but moving average shows heavy sell in the altcoin.

The MACD level is again bearish zone due to heavy sell in the altcoin. The 24hr RSI is also in the negative state going towards the bearish zone. The 24hr CCI ended on a neutral note after having a negative diversion.

Resistance level: $0.201000

Support level: $0.197908 and $0.195759

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