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- 1 The IOTA coin price replicates a lower-low structure and is close to the 20-day EMA mark.
- 2 The Bulls are showing their willingness to cross the trendline hurdle.
The IOTA price trades near the 20-day EMA mark and is showing retracement movements in the past sessions. This week, the token witnessed a rebound from the 100-day EMA mark and is attempting to stretch the pullback to cross the prompt hurdle of $0.3200. Meanwhile, the downward-sloping trendline acted as a major hurdle that has not been breached yet and is still a dream for the bulls.
At press time, the IOTA coin (MIOTA) price was trading at $0.3186 with an intraday gain of 1.24%, reflecting neutrality on the charts. It has a monthly return ratio of -9.09% and 40.65% on a yearly basis. The pair of IOTA/BTC is at 0.00000449 BTC, and the market cap is $873.92 Million. Analysts are neutral and suggest that the IOTA coin may attain momentum and will retest the $0.3500 mark soon.
IOTA Price-to-Volume Profile on Daily Charts
The above chart displays the price-to-volume profile of the IOTA coin, signifying a rebound from the 100-day EMA mark. The bulls are trying to sustain gains near the 20-day EMA to stretch the buying momentum. However, the trend is neutral and the token may retain the upside mark of $0.3500 shortly.
IOTA Price Volatility and Weighted Sentiment Analysis
Amidst the minimal price movements, the price volatility curve witnessed a sharp spike and experienced a surge of over 45%, noted around 0.67. However, the weighted sentiment value remained close to the midline near 0.011, revealing neutrality on the charts.
Social Dominance and Social Volume AI Insights
The Social Dominance data witnessed a spike over 23.65% to 0.102%, indicating investor interest on social media platforms. Similarly, the social volume AI value noted a jump over 13.89% to 4.8, signifying a positive outlook.
Development Activity and Contributors’ Count Outlook
Per the Santiment data, the development activity data noted a consistent decline and slipped by 24% to 166. Similarly, the development contributions’ count value declined steeply and dropped to 1 mark.
Per the Fib levels, the IOTA price trades above the 23.6% zone, and a notable surge of over 12% was recorded this week. The RSI curve showcased a positive crossover and stayed near the midline at around 48.
The total supply of the IOTA coin is 2.78 billion, whereas the volume-to-market cap ratio is 0.0233. It ranks 118 in terms of market cap in the global crypto market.
Summary
The IOTA coin price signifies a neutral trend, and technicals suggest a bullish trend ahead. Buyers are trying to breach the trendline barrier of $0.3400 to attain buying momentum. If bulls succeed in their mission, the coin may reach $0.3800 soon.
Technical Levels
Support Levels: $0.3000 and $0.2800
Resistance Levels: $0.3280 and $0.3500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
