IOTA Price Analysis: MIOTA looks positive for near future?


  • 24-hour trading volume for IOTA is hovering at $5,798,016.00.
  • Support for the bears has been established at $0.24
  • MIOTA rose 1.01% in seven days.
  • The EMA(50) is currently at $0.27.

29 February 2024 : In this article we will walk you through IOTA price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for IOTA, Is MIOTA a good investment? IOTA support & resistance levels etc. But before diving deep into the MIOTA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,306,277,948,782. The total trading volume stands at $155,762,294,326. Bitcoin shares 52.95 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $62,158.45 level after an upward movement of 3.3%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 4.08 percent reaching to $3,412.31 during the previous 24 hours.
While publishing this blog, BNB traded at $406.76, following a price change of -0.21%within the same time frame. SOL the native coin of Solana is up by 17.57 and currently trading at $131.15. Additionally, XRP reached $0.61 after seeing a uplift of 7.98% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

IOTA Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of IOTA (MIOTA)

MIOTA Resistance Levels MIOTA Support Levels
Resistance Level 1 $0.27 Support Level 1 $0.24
Resistance Level 2 $0.28 Support Level 2 $0.22
Resistance Level 3 $0.29 Support Level 3 $0.21

IOTA Performance

MIOTA has recorded a upsurge, gaining 1.34% in last 24 hours. The current value of IOTA is hovering at $0.15 with the trading volume of $5,798,016.00 USD in the same timeframe. The overall marketcap for MIOTA is $422,185,239.00 USD while the coin price changes 1.01% over the week.

IOTA Price Analysis

MIOTA price analysis for 29 February 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the IOTA.

Moving Averages Price Indicator
Simple Moving Average (10) 0.26 Sell
Exponential Moving Average (10) 0.26 Sell
Simple Moving Average (20) 0.27 Sell
Exponential Moving Average (20) 0.27 Sell
Simple Moving Average (50) 0.27 Sell
Exponential Moving Average (50) 0.27 Sell

The IOTA has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take MIOTA price below the crucial support level of $0.24. The relative Strength Index (RSI) indicates that the MIOTA coin is in oversold phase, as RSI is at 25. While MIOTA’s Williams %R indicator is at -60.73 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MIOTA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market.

Conclusions

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.