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- The overall market conditions are correction signs as BTC plunged below the price level of $9k again with Ethereum sustaining the major level of $200.
- During the price corrections in the overall market, IOTA also had a downfall to the major support level of $0.18.
- It is having a significant overall loss of -2.63%.
On the 7day-weekly IOTA (MIOTA) Price Analysis, IOTA started by the crucial level of $0.20. it indicated that there is a potential for major price recovery. However, the resistance level of $0.20 kept the price recovery halted.
Today, the resistance level has provided a significant reversal for IOTA in the market. The coin reached its major support level of $0.18. However, the coin bounced back to the price level of $0.19. This indicates that the support level might provide the required boost to the altcoin for crossing the mark of $0.20 again.
Currently, the price is $0.093249 with an overall loss of -2.63% and market capitalization of $537,142,369. The volume traded is $15,239,472 and the MIOTA/BTC pair is performing positive with the overall gain of 1.75% bringing the level to 0.00002205 BTC.
IOTA (MIOTA) Price Analysis
Source: Tradingview
The IOTA (MIOTA) Price Analysis, the technical graph reflects on the significant uptrend build by IOTA during the overall bullish momentum in the market with major price corrections at regular intervals.
MACD levels also reaching the bearish zone and showing negative nature. This also indicates that buying volume increases may provide the levels of some positive phase and a comeback.
The 24hr-RSI is showing positive nature and currently about to reach a level of 50.
The 24hr-CCI is showing volatile nature by having sharp negative divergence from the tip of the normal region to the oversold region. However, the levels made a comeback to the normal region and nearly touched the overbought region today. This indicates that the altcoin will be sustainable on price recovery.
Resistance level: $2.00
Support level: $1.80 and $1.50
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
