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- 1 IOTA price prediction suggests a significant increase in the value in the coming months.
- 2 MIOTA price faced rejection from the 200-day EMA.
- 3 IOTA crypto price is near the strong demand zone.
IOTA price prediction is bullish for the long term till it trades above the $0.1300 level. It suggests a significant increase in the value is possible in the coming months.
MIOTA price recovered about 23% from its recent swing low. Also, buyers succeeded in pushing the prices above the 50-day EMA. It showcases the initial signs of a bullish trend reversal and bulls seem to be returning back on track.
Recently, last week, MIOTA price attempted to break the $0.1800 hurdle. Sadly, buyers lost the battle and prices witnessed minor profit booking.
IOTA crypto price retraced down to the 50-day EMA which is acting as an immediate support for the bulls. However, the previous recovery looks sustainable so the probability of bouncing back from the 50-day EMA support remains high.
IOTA price is trading at $0.1609 with an intraday rise of 0.44%. The 24-hour volume to market cap is 1.02%.
The pair IOTA/BTC is trading at 0.00000626 with an intraday rise of 1.13%. The price pattern of both pairs looks similar which indicates buyers are getting active and preparing for the rally.
Is IOTA Price Cheap at Current Levels?
IOTA price prediction favors the bulls and suggests that the recovery is likely to continue in the coming months.
Till MIOTA crypto sustains above $0.1300, the prices are expected to remain in the bulls’ grip. However, the prices will pick up the positive momentum when buyers are able to break the $0.1800 hurdle.
If the recovery continues and prices break the $0.1800 level, then a sharp rise toward $0.2000 is possible. On the other hand, if the price drops below $0.1500, then bears may try to drag it down again to the previous low.
MIOTA Price is in a Recovery Phase
MIOTA price is in a recovery phase and volume is also on the rise. The volatility in this crypto is high indicating that speculators are active.
The crypto leaders BTC and ETH prices are stuck in a range and forming a strong base. If the overall market begins to recover, then it may positively impact the IOTA crypto and boost the confidence of buyers.
The MACD is on its way to generating negative crossover but price action shows divergence. The RSI at 46 denotes that the price might consolidate for some time before deciding the further direction.
Conclusion
IOTA price prediction remains bullish and suggests a rise in the long run. It is trading near the crucial support so the possibility of a bounce back is high.
The analysis suggests that if the MIOTA price breaks the $0.2000 level, then a sharp rise is possible.
Technical Levels
- Resistance levels: $0.1800 and $0.2000
- Support levels: $0.1500 and $0.1338
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
