IOTA/USD Breaks Above $1IOTA / USD ANALYSIS
The IOTA price is trading bullishly and a breakout above the channel may trigger a rapid increase.
The daily chart reveals that IOTA/USD has now resumed the bullish continuation as the buyers gain control of the market. The 4.67% surge in volatility has leveled up the trading price at around the $0.96 resistance level. The MIOTA price is seen trading above the 9-day and 21-day moving averages.
Can MIOTA Price Keep the Uptrend?
According to the daily chart, the IOTA price has been increasing since July 21 and traders may see more climbs if the coin crosses above the upper boundary of the channel as the bulls are taking control of the market. On the downside, the 21-day moving average at $0.80 could provide support for a possible bearish retracement.
However, if the MIOTA price crosses below the moving averages, the coin may test the $0.72, $0.62, and $0.52 supports. As revealed on the Relative Strength Index (14), the signal line is crossing above 60-level and the current buying pressure is clearly revealed above this level. At the moment, we can say the MIOTA market is following a bullish scenario and the resistance levels are located at $1.20, $1.30, and $1.40.
IOTA/USD Market
Key Levels:
Resistance levels: $1.20, $1.30, $1.40
Support levels: $0.72, $0.62, $0.52
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