The IOTA coin price shows a range-bound movement between $0.70 and $0.80, resulting in the potential double bottom pattern.

Key technical points:
<ul>
 	<li style="font-weight: 400">The 50-day EMA trends lower to prevent the bullish breakout.  </li>
 	<li style="font-weight: 400">The Stochastic RSI shows an early bullish reversal. </li>
 	<li style="font-weight: 400">The 24-hour trading volume in the IOTA Token is $56 Million, marking a 105% rise. </li>
</ul>
<h2>Past Performance of IOTA</h2>
The IOTA coin price rallied from the $0.70 support level, forming a potential double bottom pattern. The bullish anticipation of reaching the $0.80 can lead to a bullish breakout if buyers surpass the 50-day EMA. A reversal will result in a further continuation of the range-bound movement. 

<img src="https://s3.tradingview.com/snapshots/z/z3uCZxxx.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/z3uCZxxx/">Tradingview</a>
<h2>IOTA Technical Analysis </h2>
IOTA coin price will light a buying signal with the breakout of $0.80 maximum resistance of the accumulation range. The uptrend may reach the $1 mark if buyers hold the trend and maintain the pressure. 

The recent death cross results in a falling trend of the 50-day EMA as it gets closer to the range’s resistance, increasing the chances of a fakeout. 

RSI Indicator: The RSI slope and the 14-day SMA continue the uptrend at the halfway mark. Moreover, the RSI slope shows a bullish divergence in the bullish pattern. Therefore, the 50% mark breakout will increase the bullish edge. 

Stochastic RSI Indicator: The K and D lines show an early reversal from the halfway mark resulting in a bullish crossover. Therefore, the rising strings increase the chances of a bullish breakout.

In a nutshell, IOTA technical analysis radiates a bullish glow as the range breakout seems imminent.
<h2>Upcoming Trend</h2>
IOTA coin price shows a rise in the underlying bullishness as the reversal from $0.70 gives a breakout possibility. Hence, the expectation of the upcoming trend reaching $0.80 and offering a bullish breakout increases. The breakout rally has the potential of getting the psychological barrier at $1.

However, the reversal from the 50-day EMA can invalidate the bullish breakout thesis and lead to a price fall to $0.70.

Support Levels: $0.70 and $0.60

Resistance Levels: $0.80 and $1

IOTA Technical Analysis: Will The Trapped Trend Surpass 50-day EMA?

The IOTA coin price shows a range-bound movement between $0.70 and $0.80, resulting in the potential double bottom pattern.

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: Will The Trapped Trend Surpass 50-day EMA?

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