IOTA Price Analysis: MIOTA Coin Drops 13% Within a Week

  • The MIOTA coin price is in a downtrend, around -5.0%, during the intraday trading session.
  • The 24-hour trading volume is at $58 million.
  • IOTA/BTC pair is trading negative by -0.9% at 0.00002695 BTC.

Daily technical chart and price trend of MIOTA coin are showing a bearish trend. Based on the pivot level, the first support zone is 1.0 USDT. From another perspective, if it rushes, the resistance level to watch is 1.40 USDT. Thus, the graph made doji star candle pattern during the day, and the cost is relied upon to remain sideways with unwavering medium force.

The Moving Average Exponential (EMA) Ribbon, comprising of different Ema’s, goes about as solid support in the coin price move. Investors might notice the cost moves below the green ribbon and test 200-EMA, so it will guarantee a downswing in IOTA until it’s below the ribbon.

Trading volume (8.367 M) is underneath the 20-day moving average (30.19 M). To put it plainly, the volume is low, making the cost struggle at the support levels. Investors can likewise check that the volume bars on the graph are slanting, which demonstrates that exceptional instability is normal in the following trading days.

The MACD indicator gives (bearish) cross over the signal line on Sep 11, demonstrating a sell signal in the coin. Additionally, Investors can see huge red bars on the Histogram index.

MIOTA Coin Price Action Looks Bearish for Short Term

IOTA is priced at $ 1.13 today and has a 24-hour trading volume of $ 58,489,082. MIOTA prices have fallen -4.5% in the last 24 hours. The circulation of MIOTA coins is 2.8 billion and the total inventory is 2.78 billion. The MACD points to a selling indication, and the traders have prompted low volume. In fact, the cost struggles at the resistance level. In like manner, with the general market perspective, the pattern stays bearish for coming trading days.

Resistance Level: $1.40

Support Level: $1.0