- IOTA price jumped from $1.85 to $2.44 on Saturday’s trading session
- The 24-hour volume in IOTA is at $541,936,857 with a 120% increase
- The IOTA/BTC pair was trading at 0.00003957 BTC with a gain of 2.22%
The 4-hour technical chart of the IOTA price forecasts a positive trend. According to pivot points, IOTA’s critical support level is placed at $1.85. Whereas if it moves up, the key resistance to watch is $2.50. While diving into the weekly chart of a 4-hour time frame, it completes a bearish pin bar candlestick pattern representing bearish reversal with low reliability.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) is above EMA-13,21 (green, yellow), which projects a positive trend. The price is sustaining above 55-EMA (red). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.
RSI indicator (BULLISH), with a value of 63, indicates a buy signal in the coin. Moreover, Investors can see a downward slope from 75 to 63 in the index, which may surge in future trading sessions.
The volume of (7.27M) represents a buying volume above the Volume MA (6.51M) of 20-days. High buying pressure is maintained in IOTA to drive its price to higher levels.
IOTA Price Action Buying Pressure Is Maintained
IOTA Price traded at $2.44 with a gain of 1.80% in the last 24-hour and 26.80% up in the weekly time frame. Furthermore, IOTA bounced from the support of $1.85. In contrast, the market capitalization stands at $6 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is sustaining above the 55-EMA. RSI index showcases a downward slope. Moreover, the price movement can be above the resistance of $2.50 in future trading sessions.
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