MIOTA Price Analysis: IOTA Token Bulls Generate High Volume, Big Move Incoming

  • The IOTA token price is at an upward trend of around 26.4% during the intraday trading session.
  • The 24-hour trading volume is at $358 million.
  • IOTA/BTC pair is also trading positive by 19.7% at 0.00002515 BTC. 

The daily technical chart and price action of IOTA token present an upward trend. According to the pivot levels, the initial support level is $0.90. On another view, if it races up, the resistance level to watch is $1.40. Although the chart creates a bullish engulfing candlestick pattern within the day, it is foretold that the price may continue upwards with high dependability.

Ichimoku Cloud is composed of lead-1 and lead-2 with a displacement value of 1. It operates as a leading indicator and pivot level of asset price changes. Investors can witness the price break above the Red Moku Cloud, and now it glides over the Green Moku Cloud, so the cost is above the green Moku Cloud, ensuring the upward trend of IOTA.

The volume of (46.307M) is above the MA of 20-days (49.129M). In conclusion, the volume is vast, making its price settle at the resistance zones. Investors may also note that the volume bars on the chart are inclining, which hints that notable volatility is expected in the upcoming trading session. 

The Stochastic RSI (bullish) with a K-59 D-31 exhibit a buy signal in the coin. Investors may witness an inclining slant and a positive crossover in the index. It may remain in a confident region for future trading sessions.

IOTA Token Oscillators Indicates Bullish Move

Today’s price of IOTA is 1.25 US dollars, and the 24-hour trading volume is 358,168,597 US dollars. MIOTA prices have increased by 26.4% in the past 24 hours. Its circulation is 2.8 billion MIOTA coins, and the total supply is 2.78 billion. The Stochastic RSI indicator shows a buy signal, and the traders have guided high volume. Technically, the price breaks above the resistance zones and continues in a higher trend. Accordingly, as with the overall market viewpoint, the trend remains bullish for upcoming trading sessions.

Resistance Level: $1.40

Support Level: $0.90

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