IOTA (MIOTA) Suffering Lack of Support

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • MIOTA is trying its level best to put a halt on price fall, but facing a heavy resistance level.
  • The MIOTA/BTC pair is also performing negatively with the loss of – 6.16%

MIOTA is witnessing price fall, as bulls run of steams after carrying prices along with them . There is a crucial resistance of $0.200 not allowing bulls to trade near it and keep on pushing the prices downward.

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The MIOTA prices strong support of $0.140, which is holding the prices effectively and supporting them to increase gradually but due to the downfall of prices, this support level collapsed

Currently, there is a loss of $ -11.96% in the prices, which is a negative sign. The market capital is at $ 393,757,278 USD with volume traded of$17,482,724 USD and circulating supply is at  2,779,530,283 MIOTA.

IOTA1
Source:tradingview

The technical chart indicates that prices started acquiring bearish momentum due to the global market factors. Prices are falling down whenever they try to rise again as after taking showing bullish movement IOTA again stared moving with bears.

MACD levels are again overtaken by the bears as there is an increase in the selling volume of a cryptocurrency. This bearish momentum is not a positive indication.

The 24hr-RSI took a negative divergence from  the strong bullish level and currently trading near the zone of 50

The 24hr CCI is in the normal region after suffering fall from the over buying region, this means there is a heavy increase in selling volume.

Resistance Level: $  0.150
Support level: $ 0. 0137

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