Home Technical Analysis IOTA’s Monthly Price Movement Exhibits Almost 50% Escalation

IOTA’s Monthly Price Movement Exhibits Almost 50% Escalation

The current movement of IOTA is reflecting the possibility of a price correction to support zone. The fluctuation is also felt since yesterday. However, if we broaden the scale to monitor the movement of the coin, then IOTA could be seen registering an almost 47% hike. The price was at $0.213 on January 15, and today, it is at $0.314.

IOTA Price Analysis

IOTA coin was trading at $0.213 on February 15, and in the next 5 days, it escalated to $0.243. Then, the currency locked around the same level. Further, the coin kept upward momentum intact and by January 29, the IOTA price was marked a 24.92% hike and reached $0.292. The coin again locked at the same level till the starting of February. The opening of February month was moderate.

IOTA/USD price today

By February 03, the IOTA price was at $0.366 at 09:00 UTC. Then, it dropped to $0.320 by steep fall of 12.54%. After this fall, the currency hovered around the same level, and then, the price slipped to $0.302. After this fall, IOTA marked upward move and escalated to $0.349 on February 12. From January 15 till today, IOTA reflected a 46.82% hike in the price.

As per the MACD indicator, the signal line overpowers the MACD line and the same indicates that the coin may correct downwards in the upcoming hours. The current price of the IOTA coin is $0.314. The currency titled towards the immediate support level at $0.307. The same might get violated in the coming hours.

Resistance & Support Levels

R1: $0.342358, R2: $0.362219 and R3: $0.377484

S1: $0.307232, S2: $0.291967 and S3: $0.272106

David Pender
David is a journalist interested in writing news-stories regarding forex. He has been in forex industry since 2014. he recently, joined our team as a news writer. He studied mass communication and has 7+ years of experience. He is an avid trader. He can be reached by email: david@forexnews.world.

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