- IOTA price action accumulates on Saturday’s trading session
- The 24-hour volume in IOTA is at $141,434,432 with a 18.51% decrease
- The IOTA/BTC pair was trading at 0.00002599 BTC with a gain of 6.10%
The 4-hour technical chart of IOTA price action forecasts a sideways trend. According to pivot points, IOTA’s critical support level is placed at $1.32. Whereas if it moves up, the key resistance level to watch is $1.69. While diving into the weekly chart of a 4-hour time-frame, it completes an inverted hammer candlestick pattern representing bullish reversal with medium reliability.
SMA-21 & 50 acts as another strong support in the coin. SMA-20 (purple) hits the SMA-50 (white), which projects a bearish trend may happen in future. The price is also below SMA-50 and the price will also follow the negative direction.
RSI indicator (BULLISH), with a value of 47.38, indicates a sell signal in the coin. Moreover, Investors can see a flat slope in the index, and it may plunge in future trading sessions.
The volume of (1.811M) represents a low buying volume which is below the Volume MA (5.795M) of 20-days. High buying pressure is required in IOTA to drive its price to higher levels.
IOTA Price Action Projects Sideways Movement
IOTA price traded at $1.42 with a gain of 3.94% in the last 24-hour and 0.84% down in the weekly time-frame. Furthermore, IOTA bounced back from the support of $1.32. In contrast, the market capitalization stands at $3.97 billion. Technically, investors can perceive a negative crossover in SMA, and the price is below the 50-SMA. RSI index showcases a flat slope. Moreover, the price movement can stay in the accumulation zone for future trading sessions.
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