IOTA Price Analysis – July 18
In IOTA, the price is moving with an uptrend and the traders could expect an early arrival of a price rally.
Resistance levels: $0.265, $0.275, $0.285
Support levels: $0.215, $0.205, $0.195
The persistent downward trend in the market has destroyed the hopes of the crypto community. Over the past 5 days, the price of IOTA has fluctuated strongly in bearish momentum. Traders may have to wait a little longer before the IOTA price starts to show some stability, as the market remains extremely volatile, despite the bulls working on profitability.
However, the daily price is trending below the 21-day moving average and the bulls will have to move above the moving averages to reach the resistance levels at $0.265, $0.275, and $0.285. Meanwhile, the support levels to watch are $0.215, $0.205, and $0.195 respectively. The Stochastic RSI is currently seen moving within the oversold zone, a sign for a potential rise in the nearest term.
By comparing with Bitcoin, IOTA has been slowly moving higher. After bottoming out around the 2529 SAT level sometimes ago, today, the price began to slowly ascend and is currently trading around 2635 SAT. Meanwhile, the IOTA’s price is now focusing on the north as we wait for the next bullish movement.
Moreover, if the bulls can put more pressure to push the price above the moving averages, traders can expect initial resistance at 2700 SAT. Above this, higher resistance lies at 2850 SAT and above. From below, if the sellers push the market beneath the 21-day MA, we can expect critical support at 2400 SAT and below as the stochastic RSI remains within the oversold zone.