- The overall market conditions are showing recovery signs as BTC surged above the price level of $6k again with ethereum to the level of $140
- During the price recovery, IOTA also managed to regain the price mark of $0.18.
- It is having a significant overall gain of 31.81%.
On the 7day-weekly chart, IOTA started by the crucial support level of $0.12. it indicated that there is a potential for major price recovery. The altcoin slipped from the price level of $0.90 to $0.10 quite sharp due to the overall bearish market. However, the support level of $0.10 kept the price mark intact.
However, today’s major positive movement in the overall market was enough to break the resistance level and the Cryptocurrency surged above the level of $0.18. It indicated that the bulls are attempting for a heavy price recovery to the crypto asset in the market.
But the overall recovery followed in the market provided the altcoin the much-needed boost to the level of $0.20. The coin is still facing an overall gain of 31.81% with a market cap of $486,996,316 and volume traded of $26,968,761.
IOTA Technical Analysis
The technical graph reflects on the significant downtrend faced by IOTA during the overall bearish momentum in the market. Fib retracement level reached a low level of 0.236 and Iota bounced back from the level to again reach $0.10
MACD levels also reach the bullish zone and showing downtrend nature. This also indicates that buying volume increases may provide macd some positive phase.
The 24hr-RSI is showing downtrending nature and currently about to reach the oversold region.
The 24hr-CCI is showing volatile nature by having sharp negative divergence from the overbought region to the oversold region.
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