IOTA (MIOTA) Suffering Gradual Fall After Facing Resistance Level Of $0.1760

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 suffered a sudden price fall, saved by the support level of $0.1630
  • The MIOTA/BTC pair is also performing negatively with the loss of – 2.18%
  • The resistance level of $0.1760 is not allowing the gradual rise in prices. 

MIOTA is witnessed a gradual price fall in today’s trading, as bulls run of steams after carrying prices along with them it was the crucial resistance level of 0.1760 which prevents prices from climbing further and also pressurized them to acquire a negative divergence. 

The MIOTA prices are suffering heavy resistance, yet support level of $0.1630 is preventing the prices from maintaining a gradual fall. If prices manage to find a support level between the 0.1750 and 0.1740 than all the positive opportunities will arise to cross the current resistance level.

Currently, there is a loss of $ -3.20% in the prices, which is a negative indication. The market capital is at $ 469,500,267 USD with volume traded of$12,162,093 USD and circulating supply is at 2,779,530,283 MIOTA.

IOTA Price Analysis

iota
Source:tradingview

The technical chart indicates that prices started acquiring bearish momentum as there is an increase in the selling volume. Prices are falling down whenever they try to rise as they are coming short against the current resistance level and market factors are against them too.

The technical indicators and oscillators are showing an increase in the buying volume of the cryptocurrency which is the only good sign present out there currently.

MACD levels are about to enter in the bullish zone after suffering a flat momentum, but bears are also trying to push bulls out of the trade.

The 24hr-RSI took a negative divergence from the strong bullish level and currently falling towards the crucial level 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 and prices are not showing any signs of stopping nearby.

Resistance Level: $ 0.1690.
Support level: $ 0. 01680.

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