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#IOTA is Solid, Adds 20% as Prices Recover from $0.24Past Performance of IOTA IOTA prices are relatively solid at press time. Although there were hints of weaknesses on September 25, the recovery earlier today has been nothing short of stellar. The bounce means the coin is in a bullish trajectory following the complete reversal of yesterday's losses. As an illustration, it is up roughly 20 percent from last week's lows, anchoring its leg up at around $0.24. #IOTA Technical Analysis From the daily chart, IOTA is firm and price action is bullish. The immediate support is at $0.24 while resistance is around $0.36, or August 2022 highs. Notably, prices have broken out from a descending channel following today's bullish engulfing bar. Therefore, buyers have the upper hand from an effort versus result perspective. Subsequently, buyers can ramp up on dips targeting $0.36 or August 2022 highs in the short term. This preview will continue to hold as long as prices are trading above $0.24—last week's lows and, for cautious traders, above today's lows at $0.27. What to Expect from #IOTA? Traders are bullish, and buyers have succeeded in soaking in intense selling pressure. Since prices have broken above the descending channel, IOTA is recovering as the coin bottoms up after sharp losses over the last nine months. Resistance level to watch out for: $0.36 Support level to watch out for: $0.24 Disclaimer: Opinions expressed are not investment advice. Do your research.
BITFINEX:IOTUSDLong
by Bitcoin_Analyzer
#IOTA Upsides Limited, Resistance at $0.32 Past Performance of IOTA IOTA prices are printing lower lows, dropping two percent in the last 24 hours. Technically, there are hints of strength following gains from June 20. However, the cool-off from last weekend, an indefinite trend, and shrinking trading volumes point to market uncertainty. At spot rates, IOTA remains under pressure in a broader bear breakout pattern. #IOTA Technical Analysis Despite optimistic buyers, IOTA is still bearish. After rising 33 percent from 2022 lows, buyers are yet to breach the 20-day moving average—a dynamic resistance level. Besides, IOTA pieces are rebounding from the 61.8 percent Fibonacci retracement level of the June 1 to 18 trade zone. In the days ahead, buyers can wait for the reversal of June 26 losses above $0.32 to load, targeting $0.38. If not, further confirmation of the weekend's losses may force IOTA lower towards $0.23 in a bear breakout continuation pattern. What to Expect from #IOTA? The failure of IOTA bulls to break above the middle BB and $0.32 questions the strength of the uptrend. As such, further losses to mirror losses of June 26 below $0.27 could trigger more sell-offs. R esistance level to watch out for: $0.32 Support level to watch out for: $0.27 Disclaimer: Opinions expressed are not investment advice. Do your research.
BITFINEX:IOTUSD
by Bitcoin_Analyzer