thecoinrepublic.com
- 1 MIOTA price prediction suggests IOTA crypto is recovering and might be preparing for the pullback rally.
- 2 IOTA price is struggling to climb above the 50-day EMA.
- 3 MIOTA crypto price is near the demand zone.
MIOTA price prediction is bullish and suggests that buyers are trying their best to regain momentum. IOTA price is near to the crucial support and buyers seem to be returning back to track.
IOTA price is trading below the 50-day and 200-day EMA showcasing downtrend. However, the price is very close to the 50-day EMA and any time short-term trend reversal is possible.
In the mid of June, MIOTA crypto price took support near $0.1400 and displayed a bullish hammer candle. Later, slow and steady prices recovered by forming higher highs and managed to climb above the 50-day EMA.
IOTA price created hope for a trend reversal. But due to the presence of sellers, the price failed to give up the follow-up momentum.
It got stuck into the narrow range between $0.1690 to $0.2000. Meanwhile, the overall market sentiment turned mildly bearish, and due to that IOTA crypto also gets negatively impacted.
MIOTA price is trading at $0.1721 with an intraday rise of 0.41%. The 24-hour volume to market cap is 0.84%. The pair of IOTA/BTC is trading at 0.00000584 with an intraday rise of 0.17%.
MIOTA Price prepares for pullback rally?
MIOTA price prediction suggests a rise in the short term as well as in the long term. IOTA crypto price is in a recovery mode and buyers seem more active as compared to sellers.
Till the IOTA price sustains above $0.1500 the possibility of the pullback rally will remain high.
However, the price will gain positive momentum when buyers are able to break out of the 200-day EMA. On the other hand, if the price drops below $0.1500 then we might see a next phase of sell-off.
IOTA Price formed a Doji candle
IOTA price formed a Doji candle on a weekly time frame indicating that the correction might be over. If the overall crypto market recovers then it might positively impact the IOTA as well.
The MACD curve slopes sideways indicating consolidation might continue for some more time. The RSI at 44 pointing north indicates it might reach neutral territory soon. The super trend buys line still holds the price indicating mild bullishness.
Conclusion
MIOTA Price Prediction suggests bulls are active at lower levels and the possibility of pullback is high. The technical analysis suggests, IOTA price is at attractive levels and downside risk is low.
Technical levels
- Resistance levels: $0.1900 and $0.2000
- Support levels: $0.1600 and $0.1500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.