IOTA token price retests the bullish breakout of a resistance trend line. A bull run awaits that can hit the $2.5 mark or even higher.

IOTA, a distributed ledger, is not actually a blockchain. Tangle, the proprietary technology behind IOTA, is a network made up of nodes that confirm transactions. The platform's foundation claims that it offers faster speeds than conventional blockchains. This makes it an ideal platform for the rapidly expanding Internet of Things ecosystem.

Tangle's technical title is Directed Acyclic Graph. This technology aims at preserving blockchain's ability to secure transactions. The only difference is the fact that it doesn't use blocks.

Let us now look at the technical analysis of MIOTA cryptocurrency.
<h2>Past Performance of IOTA</h2>
After the bullish breakout of the resistance trend line and horizontal level of $1.4 on 2nd September, the IOTA coin price retests the trend line. Currently, <a href="https://www.cryptoknowmics.com/news/miota-technical-analysis-trading-above-the-support-level-of-1-41-tested-the-level-twice-daily/">under selling pressure</a>, the crypto asset shows lower price rejection near the trend line. Thus, it will shortly rise above the $1.4 mark.  

<img class="tv-snapshot-image aligncenter" src="https://s3.tradingview.com/snapshots/q/q07Sa0m9.png" alt="TradingView Chart" width="1245" height="650" />

Source - <a href="https://www.tradingview.com/x/q07Sa0m9/">Tradingview</a>
<h2>IOTA Technical Analysis</h2>
IOTA crypto is currently at $1.26 as of writing this article. Moreover, it has seen a fall of -5.89% within 24 hours. Thus, indicating a fall in underlying bullishness. However, the fall in trading volume below the 20-day EMA in the past few days indicates a lower number of sellers. 

However, the IOTA coin price may soon find demand near the $1.15 mark. It will result in the reignition of the bullish phase. Thus, investors can see this dip as an excellent opportunity to buy and hold.

The coin price may find support at the $0.95 or $0.50 mark per the price action. And in the event of a bullish reversal, the resistance near $2 and $2.5 can push the price below.

MACD and signal lines on the daily chart head closer to the zero level in a bearish alignment with increasing intensity of the bearish histogram. Thus, resulting in a sell signal. 

The slope of the RSI indicator is slightly below the daily charts' central line. As a result, RSI support decreased to 44% after facing rejection from the central line. Furthermore, the slope is trailing lower, which may soon result in the entry to the oversold zone.
<h2>Upcoming Trend </h2>
As per the MIOTA technical analysis, the short-term scenario looks bearish. However, the price action with long-term vision projects a bullish growth for the IOTA coin in the upcoming weeks.

IOTA Technical Analysis: Trend Line Retest Aims to Hit $2.5

IOTA token price retests the bullish breakout of a resistance trendline. A bull run awaits that can hit $2.5 mark or even higher.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

IOTA Technical Analysis: Trend Line Retest Aims to Hit $2.5

Top Picks