IOTA Price Analysis: MIOTA Token Shows Sustainability Above Mark Of $1.0

  • IOTA token price action bounces from the support at $0.90
  • The 24-hour trading volume in IOTA is at $61.82 Million
  • The IOTA/BTC pair was trading at 0.00002973 BTC with a gain of 1.83%

The daily technical chart of the IOTA token presents a bounce from the support level and is now trying to sustain above it. According to pivot points, the IOTA critical support level is $0.90. Whereas if it goes up, the major resistance level to watch is $1.50. The chart of a 4-hour time frame shows a Doji candlestick pattern representing neutral momentum in the coin.

MACD indicator (BEARISH) crossover beneath the signal line showcases a weak bearish momentum. Investors may observe the MACD line is getting closer to the Signal line to intersect again positively in the upcoming trading sessions, Moreover faded tiny red bars on the histogram can be observed in the index.

The Moving Average (MA) Exponential Ribbon consists of 8-EMA, ranging from EMA 20-55, which acts as solid support in the asset price action. Investors may observe the ribbon has flipped over to the negative direction and is getting stretched. The price is below the ribbon, so it will ensure IOTA’s bearish trend until the price remains below the ribbon.

The volume of (963.21K) is underneath the Volume MA (8.38M) of 20-days. Low buying pressure is still maintained in IOTA, which results in a downtrend of the coin.

IOTA Token Price Action Resides Underneath The EMA Ribbon

IOTA token price traded at $1.01 with a gain of 1.77% in the last 24-hour and 17.3% returns in the weekly time frame. Moreover, IOTA price action took support from the support of $0.90 and now is sustaining above the mark of $1.0. In contrast, the market capitalization drops at $3 billion. Technically, investors can perceive sustainability, but the price is below the EMA Ribbon. MACD showcases a bearish crossover. Volume is low below the MA of 20 days. Additionally, the price move can be towards the support of $0.90 in projected trading sessions.

Resistance: $1.50

Support: $0.90

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