IOTA (MIOTA) Prices Trying Their Best To Resist The Market Bears At $0.1600

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 price fall while performing their rally up, saved by the support level of $0.1580
  • The MIOTA/BTC pair is also performing positively with the gain of 29%
    The resistance level of $0.16300 is not allowing the gradual rise in prices.

MIOTA is witnessed a gradual price fall in today’s trading, as bulls are running of steam after carrying against the bearish nature market, it was the crucial resistance level of 0.1630 which prevent prices from climbing further and also pressurized them to fall and acquire a negative divergence.

The MIOTA prices are suffering heavy resistance, yet support level of $0.1600 is preventing the prices from maintaining a gradual fall and pass it. If prices manage to find a support level between the 0.1625 and 0.1620 than their might some positive opportunities arise to cross the current resistance level.

Currently, there is a gain of $ 1.72% in the prices, which is a positive indication. The market capital is at $ 449,969,776 USD with volume traded of $8,812,060 USD and circulating supply is at  2,779,530,283 MIOTA.

IOTA (MIOTA) Price Analysis

iota
Source:tradingview

The technical chart indicates that prices started acquiring bearish momentum as there is an increase in the downtrend in all aspects of the chart.  Prices are falling and there are very fewer chances of a 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 have entered into the bullish zone after suffering a negative momentum, as bears are also trying to push bulls out of the trade.

The 24hr-RSI took a positive divergence from the strong bearish level only to fall again and currently falling below the crucial level of 50.

The 24hr CCI is in the normal region after climbing up from the overselling region, this means there is an increase in buying volume and prices are might show some positive signs nearby.

Resistance Level: $  0.16300.
Support level: $ 0. 01600.

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