MIOTA Price Analysis: Will IOTA Price Reach $2.0 This Season

• IOTA price bounced back from $1.37 to $1.66 on Tuesday’s trading session
• The 24-hour volume in IOTA is at $583,738,934 with a 422.85% increase.
• The IOTA/BTC pair was trading at 0.00003059 BTC with a gain of 22.10%

The 4-hour technical chart of IOTA price action projects an uptrend. According to pivot points, IOTA’s critical support level is placed at $1.37. Whereas if it moves up, the key resistance level to watch is $1.65. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing bulls are in control of the coin.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) has given a golden crossover above SMA-50 (white), which projects a bullish trend. The price is also above SMA-100 (yellow). Investors may perceive a crossover between SMA-20 and SMA-50, and the price will also follow the positive trend.

RSI indicator (OVERBOUGHT), with a value of 77.58, indicates an overbought situation in the coin. Moreover, Investors can see an upward slope from 61 to 77 in the index, which may cool down a bit in future trading sessions.

Bulls In Favour Of IOTA Price Action

IOTA price traded at $1.65 with a gain of 16% in the last 24-hour and 22.92% up in the weekly time-frame. Furthermore, IOTA price bounced back from the support of $1.37. Whereas if it sustains above the resistance of $1.65 it can reach new highs in future trading sessions. In contrast, the market capitalization stands at $4.71 billion. Technically, investors can perceive a golden crossover in SMA. Moreover, the price movement can be towards the next resistance of $2.0.

Resistance: $1.65, $2.0

Support: $1.37

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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.