IOTA Price Analysis – October 13
In IOTA/USD, the price is moving with an uptrend and the traders could expect an early arrival of a price rally.
Resistance levels: $0.32, $0.34, $0.36
Support levels: $0.24, $0.22, $0.20
IOTA is currently dealing with the bulls. The coin has always sought to increase despite the pressure of the market. The crypto market is currently struggling with volatility and it is very likely that the market will come out in the same way soon. The period after this one should be flourishing.
More so, MIOTA continues to hold strong at $0.26 around the 21-day moving average. However, it’s possible that the more this support is tested, the more it’s likely to break. If IOTA/USD continues to abuse the $0.26 level, the traders can expect the price to break beneath it at some point and the potential support levels of $0.23, $0.21 and $0.19 may be tested.
For now, the price is dancing at $0.278 with the weak bullish momentum supported by the slightly positive technical levels. The resistance levels to watch out for are $0.38, $0.40 and $0.42 as the RSI (14) moves below level 60.
Against Bitcoin, IOTA has been slowly grinding higher. After bottoming out around the 3233 SAT level, the price began to slowly ascend and is currently trading around 3365 SAT. MIOTA’s price is now contained within the ascending channel as we wait for the bulls to hopefully push the market higher as the stochastic RSI recovers from the oversold.
Moreover, if the bulls can break out above the upper boundary of the channel, we can expect initial resistance at 3800 SAT. Above this, higher resistance lies at 4000 SAT and above. From below, if the sellers push the market beneath the lower boundary of the channel, we can expect critical support at 3000 SAT. Beneath this, further support lies at 2700 SAT and below.
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