IOTA Price Analysis: MIOTA Token Is Close To Breakout Can Target Above $2.65

  • IOTA token price action testing the resistance at $2.35 if broken a sudden spike in price will come
  • The 24-hour volume in IOTA shows an increase of 82.69% at $518,010,282
  • The IOTA/BTC pair was trading at 0.00004108 BTC with a gain of 10.53%

The 4-hour technical chart of the IOTA token price action presents a bounce from the support and tests the resistance. According to pivot levels, the IOTA critical support level is $1.65. Whereas if it moves up, the fundamental resistance level to watch is $2.65. The weekly chart of a 4-hour time frame shows a bullish engulfing candlestick pattern with a wick representing bulls in control.

CCI indicator (BULLISH) – Showcases a strong momentum with a value of 170 ranging in the bullish territory. Investors may observe an inclining slope from 88 to 170 in the index. It may spike up and remain in a positive direction for the upcoming trading sessions.

The Moving Average (MA) Exponential Ribbon consists of 8-EMA, ranging from EMA 20-55, acts as solid support in the asset price action. Investors may observe the ribbon is still compact, and the price pierced above the ribbon, so until the price remains above the ribbon, Ensuring IOTA’s bullish trend.

The volume of (12.13M) is upward of the Volume MA (8.51M) of 20-days. High buying pressure is still maintained in IOTA to drive its price to excessive levels.

IOTA Token Price Action Sustains Above The EMA Ribbon

IOTA token price traded at $2.30 with a gain of 6.88% in the last 24-hour and 11.70% returns in the weekly time frame. Moreover, IOTA took support from the support of $1.65. In contrast, the market capitalization stands at $6.40 billion. Technically, investors can perceive testing at the resistance level of $2.35, and the price is above the EMA Ribbon. CCI index showcases an inclining slant. Additionally, the price movement can be above the resistance of $2.65 in future trading sessions.

Resistance: $2.65

Support: $1.65

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.