- 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
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
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
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.