- The price trend of IOTA coin is on a downward trend this month.
- IOTA/BTC pair is trading negative by 2.3% at 0.00002400 BTC
- The 24-hour volume in IOTA is $46.866 Million
The daily technical chart of IOTA coin is struggling to bounce above the support level. According to the pivot level, the key support level is $0.65. However, if it does go higher, the key observational resistance is $1.35. In addition, the chart also has a Doji star candlestick pattern, showing neutralized movement with high reliability.
The exponential moving average (EMA) composed of 200-EMA serves as reliable support for currency price changes. Investors can observe that the price moves below the red line, ensuring a downward trend in IOTA until the price stays below the EMA.
The CCI indicator gave a (bearish) signal with -114, projecting a sell signal in the coin. Investors may observe a flat slope in the index. It may plunge in future trading sessions.
Volume (1.343M) was lower than the 20-day moving average (2.945M). Traders need to guide high buying pressure to bring their price levels into positive territory. Investors can also observe sufficient volume on the chart, which indicates that a big move is expected soon.
The Parabolic SAR indicator also implies a sell signal during the session, and it will ensure a downward trend in IOTA unless the yellow dot stays above the price candle.
IOTA Coin Requires High Buying Volume
IOTA coin is at $0.75, with a daily loss of 2.2% and a weekly drop of 23.8%. In addition, price bounced above the support level but lacks momentum. The CCI indicator shows a sell signal, and the traders need to guide buying pressure. Therefore, the parabolic SAR indicator indicates a sell signal. Technically, the price lacks strength and sustains above the support level. Thus, as with overall market sentiment, the trend remains bearish.