IOTA Price Analysis – September 30
IOTA’s highest recorded value in the last seven days was $0.278 and the lowest was $0.263. The coin may move between the range of $0.25 and $0.30 in the upcoming week.
Resistance levels: $0.31, $0.33, $0.35
Support levels: $0.21, $0.19, $0.17
Looking at the daily chart, it seems that this is not a very good time for IOTA traders because of its poor performance. However, this could reverse the current trend very soon. The IOTA could reach $0.29 in the coming days and even reach nearly $0.4 by the end of the year.
However, the daily price still trends within the Ichimoku cloud and the bulls will have to move above this to reach the resistance levels at $0.31, $0.33 and $0.35. Meanwhile, the support levels to watch are $0.21, $0.19 and $0.17 respectively. The stochastic RSI has crossed to the oversold conditions, which may start giving bullish signals soon.
Against Bitcoin, ETH is trading within the ascending channel and above the Ichimoku cloud. A few days ago, IOTA eventually broke up the channel, to raise the market price to 3346 SAT before the slight drop today. MIOTA is making an attempt to signal a bullish rally push the price to meet the resistance levels at 3700 SAT and 3800 SAT if pressure rises. But for now, the bears are planning to step back into the market.
However, from the market structure, we can say the bulls have to put more pressure to control the market and before the positive climb start, IOTA is likely to retrace to the break level around 3208 SAT where it is consolidating. If IOTA drops below this consolidation area, the price may find support at 2600 SAT and 2500 levels. The stochastic RSI faces downward, which indicates more drops are coming.
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