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MIOTA Price Analysis: Can IOTA Price Test The Level Of $2.00 In 2021?

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  • IOTA Price is currently moving inside supply zone on 4-hour chart with a gain of 0.68%
  • IOTA indicators are suggesting a consolidated move for the coin. Meanwhile the IOTA/BTC pair is at 0.00002304 BTC
Source: IOTA/USD On Trading view

IOTA price  was trading at $1.36 with an intraday gain of 0.61%. MIOTA price can face resistance at  $1.50, and on the downside, it can see a bounce back from $1.00. IOTA has given a whooping return of 400% in less than 4 months. IOTA made a 52 week high on Feb 19, 2021. After making a 52 week high, the price went down and continued the same rally.

MIOTA is currently trading above 50 and 100 Moving average. The 50-MA (Yellow line) is at the level of $1.07, making it temporary support for the coin. The IOTA/BTC pair plunged with an intraday loss of 2.85% and currently showing strength for positive levels.

MIOTA is currently ranked at 27th, surpassing others in the crypto-verse with a market capitalization of $3,767,085,870.The 24-hour trading volume($93,131,428) of the coin went down by 0.28%

TECHNICAL INDICATORS SUGGEST A CONSOLIDATED MOVE FOR IOTA PRICE  

Source:Trading view

IOTA weekly chart shows consolidated move. The daily chart forecasts a possibility for a negative momentum in the price. While coming on to the shorter time frame of 4hrs, it is inside a supply zone. If the price breaks 10% above or below the zone, major movement can be seen on the IOTA price.

The volume indicator on the 4hr chart is at (516K), indicating a buy signal with lower strength. It can see a rise in buying volume if it goes above $1.50.

RSI(Neutral): It is currently trailing at the value of 53.08, showcasing its presence in the neutral  zone. There is no slope formed in the RSI, highlighting that the IOTA price will see a consolidated move in the upcoming trading session.

CONCLUSION

IOTA price has given great returns to its investors in the past couple of months. The IOTA/BTC pair is currently seeking momentum for a positive breakout. An Investor should do their due diligence before investing.

TECHNICAL LEVELS

Major Support:$1.00

Major Resistance:$1.50

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