- IOTA coin despite a strong correction from higher levels is trading near its short-term moving average of 20-DMA.
- The monthly chart’s crypto-asset indicates an upcoming bullish momentum after a pullback from higher levels with lower selling volume.
- The pair of IOTA/BTC is trading on a solid positive note at 0.00003328 BTC with an intraday increment of +10.61%, and the ratio of IOTA/ETH is CMP at 0.0004698 ETH with an intraday action of +10.63%.
IOTA coin price structure is looking strong, as compared to other ALT coins over the monthly chart. The coin trades above all vital moving averages of 20, 50, 100, and 200-day lines, forming a bullish engulfing candle. Seller volume over the monthly chart is also declining, indicating the bulls still have control over the counter.
The sustainability above 20 and 50-DMA lines with supportive volume action will create good upside in upcoming trading sessions. The crypto asset is sustaining above all major DMA lines with a positive crossover of SMA over major DMA lines. Support on the lower side is $1.39 and $1.28, whereas resistance on the higher side is $1.65 and $1.98.
IOTA coin is trading on a positive note witnesses a good buying interest
IOTA coin at the weekly chart is trading on a slightly positive note while witnesses a good buying interest from lower levels. The volume action over the chart is recorded near the average line, which needs to grow for another lap of bullish momentum. Meanwhile, the technical parameters are presently favoring bulls over the 4-hour time frame. Now, the IOTA is trading at $1.56 with an intraday action of +16.52%, and the volume to market cap ratio is at 0.03621.
Relative Strength Index (BULLISH): IOTA coin RSI is trying to move higher after testing the oversold zone at the weekly chart. In contrast, the RSI trades on a bullish note and heading towards the overbought zone, now CMP at 55.
Moving Average Convergence Divergence (BULLISH): The daily chart indicates a positive trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) ever overpowers the seller’s line (red), with a positive crossover.
Support levels: $1.39 and $1.28
Resistance levels: $1.65 and $1.98.