MIOTA Price Analysis – October 30
MIOTA clears above the 9-day and 21-moving averages as the recovery may be extended above the resistance level of $1.50.
Resistance levels: $1.70, $1.80, $1.90
Support levels: $1.00, $0.90, $0.80
IOTA/USD is currently hovering above the 9-day moving average as the technical indicator Relative Strength index (14), for instance, it is currently moving near the 60-level. The bulls seem to be gaining traction due to the trading volume that is needed to sustain gains above $1.50. Moreover, the more the price delays the spike above $1.50, the stronger the sellers become.
MIOTA Price Analysis: MIOTA Breakout May Sustain the Upside
The MIOTA price is likely to cross above the upper boundary of the channel, preparing to move towards the resistance level of $1.50. However, the technical indicator may continue the bullish movement in the next few positive directions. Meanwhile, it is important to take note that the resistance levels combined with the movement of both the technical indicator Relative Strength Index (14) and the 9-day and 21-day moving averages.
On the downside, a bearish movement below the 9-day moving average could bring back the short-term selling pressure while the next supports may come at $1.00, $0.90, and $0.80. Meanwhile, any further bullish movements across the upper boundary of the channel may hit the next resistance at $1.70, $1.80, and $1.90 levels
IOTA/BTC Market: The Bulls Are Warming Up
Against Bitcoin, the IOTA price could be seen hovering above the 9-day and 21-day moving averages, currently trading at 2297 SAT. As the daily chart reveals, if the MIOTA price makes a cross above the upper boundary of the channel, traders can now say the bulls have come back fully into the market.
However, if the market drops below the lower boundary of the channel, the next key supports could be at 1800 SAT and below. On the bullish side, an additional bullish trend could push the market to the resistance level of 2600 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) reveals that the market may continue the uptrend if the signal line remains above 50-level.