IOTA Price Surges By Over 15%

The IOTA/USDT market is rapidly gaining bullish traction. As a result, the token’s price has risen past a threshold last seen about nine months ago. Moreover, trading indicators are still positively biased, hinting that more increases may be seen in this market in subsequent sessions.

IOTA’s Statistics:

IOTA Price: $0.3551

IOTA Market Capitalization: $1.20B

IOTA Circulating Supply: 3.54B IOTA

IOTA Total Supply: 3.54B IOTA

IOTA CoinMarketCap Rank: 92

Key Price Levels:

Resistance: $0.3750, $0.4000, $0.4250

Support: $0.3500, $0.3250, $0.3000

IOTA/USDT Market Still Trades Above $0.3500 Threshold

The IOTA coin has been retracing higher ground very rapidly in recent times. This has aided its quick rise through multiple resistance price levels. Consequently, the last price candle can be seen standing above the $0.3000 threshold and reaching through the resistance at the $0.3500 price level.

Also, the 50- and 200-day Moving Average (MA) lines are approaching a crossover below price action. Additionally, the Stochastic Relative Strength Index (RSI) lines can be seen preparing to drag sideways. This may consequently give room for price action to either stay above the $0.3500 level or move further above it.

IOTA Takes on a Confident Look

Price movement in the IOTA/USDT 4-hour market has an appearance that suggests that upside forces are quite strong. The last price candle has appeared large and green and, as of the time of writing, retains most of the recorded gains.

Likewise, price action stays above all the MA curves and, as such, keeps bullish hopes alive despite seen downward contractions. In addition, the Stochastic RSI lines can be seen rising steeply, still in the overbought region of the indicator. Therefore, bullish traders can still stay focused on the $0.3750 and $0.4000 resistance price levels.

Start using a world-class auto trading solution.