IOTA Price Analysis: Will MIOTA Hit $1.50 Again?

• IOTA slips below $1.40 to $1.32 on Monday’s trading session.
• The SuperTrend indicator projects a buy signal. Until now, no signs of downtrend have been observed.
• The IOTA/BTC pair was trading at 0.00002647 BTC with a gain of 2.86%

The 4-hour technical chart of IOTA projects a buy signal with an uptrend while presenting a SuperTrend indicator. Investors are intended to buy IOTA when the indicator turns from red to green while moving below the price. As long as the SuperTrend signals a bullish trend, the IOTA downtrend is ensured.

Confirmation Of Bullish Trend In IOTA  

IOTA price was $1.32; according to pivot points, IOTA’s critical support level is placed at $1.18. Whereas if it moves up, the key resistance level to watch is $1.40. While diving into the weekly chart of a 4-hour time-frame, it completes a spinning top candlestick pattern; It means that neither buyers nor sellers could gain the upper hand.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) intersects the SMA-100 (white), which projects a bullish trend. The price is above both the SMA’s, which is a positive sign for the asset. 

RSI indicator (BULLISH), with a value of 54.20, indicates a buy signal in the coin. Moreover, Investors can see a slight upward slope in RSI from 50 to 54, and Investors should hold the asset and wait for the RSI to get towards the overbought zone.  

Bulls In Favour Of IOTA Coin

IOTA traded at $1.32 in a neutral momentum of 0.79% in the last 24-hour. However, IOTA maintains a gain of 11.42% on the weekly time-frame. In contrast, the market capitalization stands at $3 billion. Technically, investors can perceive a positive crossover in SMA; IOTA price will hit the resistance of $1.40 once again.

Resistance: $1.40

Support: $1.18

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Nikhil Ingole

Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.