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Since the past five trading sessions on the daily market, IOTA has been gathering moderate gains. At this point, price action has just broken a new resistance, and it seems ready to keep going upward.
IOTA Analysis Data
IOTA Value Now: $0.2074
MIOTA Market Cap: —
IOTA Moving Supply: —
MIOTA Total Supply: 2,779,530,283
IOTA CoinMarketCap Ranking: 71
Major Price Levels:
Top: $0.2074, $0.2100, and $0.2150
Base: $0.2050, $0.2030, and $0.2000
MIOTA (IOTA) May Have Found Support at $0.2016
Price action in the IOTA/USD daily chart seems to be foretelling that price action may have found a support level at the $0.2016 price level. Furthermore, the last price candlestick has pushed prices to the $0.2074 price mark, since it is a bullish one. Since about five trading sessions ago, price candles have stuck to the ceiling of the Bollinger Bands. Consequently, this has stretched the upper limit of this indicator. Meanwhile, the lines of the Stochastic Relative Strength Index (RSI) are now tangled together at the peak level of the indicator and don’t seem ready to trend downward, which would indicate a reduction in upside momentum.
IOTA Price Action Creates More Room for Further Upside Retracement
On the 4-hour market for IOTA, price activity seems to be occurring in an upside sloping price channel. In addition, it appears that price action is creating more room for further price increases. This inference is drawn from the fact that the lines of this indicator have changed to a downside bearing following a crossover in the overbought region, while a green price candle has appeared on this chart. Meanwhile, the curves of the Moving Average Convergence Divergence indicator are on the positive side and are trending upwards. Also, the last bar of this indicator has regained its solid green appearance. Therefore, prices in this market seem set to break through the $0.2100 resistance mark.
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