IOTA Crashes, Struggling for a Recovery

IOTA Price Prediction – May 15
IOTA/USD market crashes, struggling for a recovery in a deep-lower trading zone like many other cryptos are currently doing. The impact of the US Dollar’s purchasing weight has made price trades around $0.35 at an average positive percentage rate of 0.48.

MIOTA (IOTA) Price Statistics:
IOTA price now – $0.58
IOTA market cap – $985 million
IOTA circulating supply – 2.8 billion
IOTA total supply – 2.8 billion
Coinmarketcap ranking – #36

MIOTA (IOTA) Market
Key Levels:
Resistance levels: $0.50, $0.60, $0.70
Support levels: $0.20, $0.10, $0.05

IOTA/USD – Daily Chart
The daily chart reveals the IOTA market crashes, struggling for a recovery in a deep-shallow trading spot underneath the trend lines of the SMAs. The bearish channel trend lines are intently drawn to get a clearer picture of what is obtainable in the downing force pace that the market has been undergoing over time. The Stochastic Oscillators have crossed northbound from the oversold region slightly against the range of 40 to indicate that bullish momentum is somewhat piling.

Will the IOTA/USD market push for a touch of the $0.50 resistance soon?

Indications are on the set, portending the near possibility of seeing the IOTA/USD market push for a touch of the $0.50 resistance level. The current candlesticks pattern around the lower bearish trend line signifies that the trade has been able to find an ideal support baseline to launch variant upward swings in the following volatile movement. It is also technically ideal to back up longing orders with price action at the lower trading spot. And traders should always avoid using high lots.

On the downside of the technical analysis, the IOTA/USD market short-position players may at this point be trading against a recuperation operation in the crypto economy if they intend to exert new orders. The near reliable entry point for a return of selling pressures is expected to be around the $0.50 resistance level. However, a reversal in an aggressive manner from the point may let the price aims for a lower trading point than the $0.20 line afterward.

IOTA/BTC Price Analysis

In comparison, IOTA appears, recuperating on a faster note of exhausting the strength to the upside against Bitcoin. The cryptocurrency pair market crashes, struggling to recover from a shallow trading spot underneath the SMAs’ sell signal sides. The 14-day SMA is below the 50-day SMA. The Stochastic Oscillators have swerved northbound from the range of 20 briefly past the range line at 80 into the overbought region to show the base crypto is on the course of gathering momentum against the flagship countering crypto. However, a correction may be made against the trading outlook in the near time, especially when a full-body-bearish candlestick emerges around the point of the smaller-SMA trading indicator.

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