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The contrary picture is nonetheless more likely given the RSI is languishing below 50 and a bearish crossover for the MACD suggests seller advantage. On the 4-hour chart, MIOTA/USD is below the 50MA, but looks likely to attempt a new move after rebounding from an old horizontal support line.
Here is how MIOTA/USD looks on the daily and 4-hour chart: IOTA price technical outlook Although bulls are battling to keep prices above $1 after today’s dip, the robust challenge they face at current prices suggests a fresh decline extending to 4 August lows of $0.82 is possible. The 48th ranked cryptocurrency is trading around $1.02 at time of writing, with a daily trading volume of over $90 million and market cap of $2.8 billion.Īccording to CoinGecko data, IOTA’s price is down 6.8% against the US dollar and 5.4% against BTC in the 24-hour timeline. IOTA price has fluctuated heavily in the past 24 hours, recording values within the range of $0.97 to $1.13 as shown on crypto market data aggregator CoinGecko.
The MIOTA token has lost against both USD and Bitcoin as sellers increase downward pressure
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