IOTA Price Analysis – September 11
IOTA is anticipated to come out of the downfall soon. The coin has never failed the expectation of the investors and is likely to continue the tradition.
Resistance levels: $0.26, $0.27, $0.28
Support levels: $0.21, $0.20, $0.19
The IOTA price has been pretty impressive in recent days. He showed a lot of price improvement and even in terms of market capitalization. The future of the coin seems brighter than ever. Today, the coin deals with the downward movement. There are many coins on the market that open with losses. IOTA was also one of them. However, it recorded a recovery, but once again fell.
However, the daily price still trends below the 21-day moving average and the bulls will have to move above the mentioned moving average to reach the resistance levels at $0.26, $0.27 and $0.28. Meanwhile, the support levels to watch are $0.21, $0.20 and $0.18 respectively. The RSI (14) is seen moving above level 40, a sign of an indecisive market.
Compared with Bitcoin, the market bounces back 2 days ago from the lower part of the ascending channel to move above the 21-day moving average. Yesterday, IOTA eventually broke up the channel, which raised the price to 2405 SAT before the slight drop today. MIOTA is making attempt to signal a bullish rally and may likely meet the resistance at 2550 SAT and 2650 SAT if pressure rises. In fact, the RSI is now rising up.
However, from the market structure, we can say the bulls have regained the control of the market. Before the positive climb start, IOTA is likely to retrace to the break level around 2362 SAT where it is consolidating. If IOTA drops below this consolidation area, the price may find support at 2100 SAT and 2050 levels.
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