By evaluating the price data of IOTA, it can be said that it is in a downtrend currently. The price inclined by 0.23% in the last seven days and we can say that the IOTA (MIOTA) is underperforming right now. From its peak price of $5.25, it fell -96.96% in a year and demolished the investors’ wealth. The current market sentiments are not good. There is no big volume. Buyers are also not available in the current market scenario.
The price of IOTA has slipped below 50 and 200 EMA and it suggests that the price is in a bearish trend.
The RSI line has been moving in the oversold zone. The RSI line is around 34.09. The 14 SMA has a value of 31.72 points. This indicates that the IOTA (MIOTA) market is in the oversold zone.
Right now, MACD is giving bearish views. The MACD line is below the signal line and both the MACD line and the signal line are beneath the zero line hinting the bearish sentiments about the price.
The price has respected its major trendline. Currently, it is going downward striking back by resistance. So, the price of IOTA can continue to fall up to the next support, and currently, it following its trendline properly if it breaks the next support, it can go down more.
The IOTA Finance Network trading volume of 24 hours is $7007024 with a 40.00% decrease in volume in the last 24 hours. There is no substantial great boost in the volume of the coin and that could happen because of a lack of buyers in the market.
The following analysis is provided for informational purposes only and should not be considered as financial, investment, or other advice. Investing and Trading in Crypto coins involves the risk of capital loss.
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