IOTA (MIOTA) Recovering Strongly After Acquiring The New Support Level

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 enjoying a strong rise in the price.
  • They also put a halt on the fall and saved by the support level of $0.14350
  • The MIOTA/BTC pair is also performing negatively with the loss of – 1.53%
  • The resistance level of $0.1600 is now in reach of the prices.

MIOTA has witnessed a gradual rise in the prices in today’s trading, as bulls are trying to carry the prices along them to cross the crucial resistance level of $0.1600 which is standing up ahead as a major milestone.

The MIOTA prices are suffering a continuous pump and dup pattern in their trading. Yet support level of $0.14350 is preventing the prices from committing a gradual fall after reaching the lowest limit possible. If prices manage to find a support level between the 0.1570 and 0.1580 than they can maintain a strong presence above the level of $0.1600

Currently, there is a gain of $ 0.83% in the prices, which is a good indication. The market capital is at $ 436,052,613 USD with volume traded of $10,745,665 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 a positive momentum as there is an increase in the buying volume. Prices are coming strong after suffering a continuous in them. The FIB retracement level is showing that prices are overcoming the bearish zone in their current trade. 

The technical indicators and oscillators are still showing an increase in the selling volume of the cryptocurrency which indicates that prices may fall again.

MACD levels are about to enter in the bullish momentum after suffering a negative momentum, but bears are also trying to push bulls as still, they have the potential to back off bulls.

The 24hr-RSI took a positive divergence from the strong bearish level and currently climbing towards the crucial level of 50.

The 24hr CCI is in the normal region after attempting a climb from the overselling region, this means there is an increase in buying trade and prices are not showing any signs of stopping nearby.

Resistance Level: $ 0.15750.

Support level: $ 0. 01600.

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