MIOTA Price Analysis: Will IOTA Token Price Be Able To Break Its All-Time High?

• MIOTA Price is currently seeing a halt from the downtrend. It can soon see a recovery and break its $2.5 resistance soon
• IOTA token price is currently trading at $1.03 with an intraday gain of 2.56%. In contrast, IOTA/BTC pair might also see a strong recovery in the future.

IOTA token price is currently trading near the value of $1.03 with an intraday gain of 3%. It has an ROI of 175732.03% which is higher than its competitors in the market. The resistance for IOTA price on going upwards will face major resistance near the value of $2. Meanwhile, it can see a bounceback from the support of $0.5. IOTA price has seen a return of more than 400% in the last four months. MIOTA price is currently trading below the 50 and 100 Daily Moving average. The 50-MA (Blue line) is near the $1.57 making it temporary resistance for the price. There is a negative crossover in the moving average on the daily chart. The IOTA/BTC pair is also seeing a bullish momentum with a gain of 2%. It can see a breakout from the resistance created in the past in upcoming days.

MIOTA is currently ranked at 34th with the market capitalization of $2,808,964,990 surpassing the other in the crypto verse. The volume of the asset has also seen a decrease of 20% in the last 24 hours. The volume to market capitalization ratio of the coin also shows a downtrend.

Technical Indicators Hints At A Downtrend In IOTA Token Price

 

IOTA’s weekly technical chart shows a downtrend for the future. On the daily chart, the price is showing a negative momentum. The price can break down below the major support in the upcoming days.

The volume indicator on the daily chart is at 3.38M, hinting at a sell signal with lower strength. If the price goes below $0.8 then a strong sell volume can be observed.

MACD(Bearish): MACD for the coin is showing a downtrend signal on the daily chart. There is a negative slope formation in the RSI which suggests a downtrend. The bars of the histograms also suggest a downtrend in the price.

Conclusion

 MIOTA’s price has seen a jump of more than 400% in the past four months. It is currently in a slump but can soon see a recovery to higher levels. MIOTA investors can see good returns in the future but have to wait for the price action.

TECHNICAL LEVELS

Major Support:$0.5

Major Resistance:$2

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