IOTA Technical Analysis Jan 29

Today’s short-term outlook and critical levels to watch

Short-Term Market Outlook

IOTA is currently trading at the 0.08 dollar level and has experienced a 3.46% decline in the last 24 hours. The daily range is stuck in the 0.08-0.09 band, and volume remained at low levels with 7.87 million dollars. The short-term trend is downward; price is positioned below EMA20 (0.09) and the Supertrend indicator shows resistance at the 0.09 level. RSI at 39.71 is in the neutral-bearish zone, MACD histogram is negative, and momentum is weak. In the next 24-48 hours, the 0.0836 support may be tested; a break here could accelerate the decline. On the upside, a break above 0.0858 is required. BTC’s bearish structure across the market is creating pressure on altcoins, which necessitates a cautious approach for IOTA. High risk prevails for short-term traders; focus on quick invalidation points.

Intraday Critical Levels

Nearby Support Zones

0.0836 (strength score: 70/100): The most critical nearby support; this is a strong level on the 1D timeframe and holding above daily lows. A break would lead to a quick slide to 0.0821 (score: 60/100). These supports overlap with strong levels from 3D and 1W timeframes, so holding probability is high but there’s test risk due to BTC pressure.

Nearby Resistance Zones

0.0840 (score: 61/100): First resistance, near EMA20; a break here would be a momentum trigger. 0.0858 (score: 64/100): Main resistance, aligned with Supertrend. A close above could lead to movement toward 0.09, but watch for low-volume rallies.

Momentum and Velocity Analysis

Short-term momentum is bearish; MACD negative histogram gives a sell signal, RSI around 40 shows a potential bottom signal but far from oversold. Supertrend is bearish and 0.09 resistance is strong. Velocity analysis: Decline momentum dominates, with acceleration in recent hours but slowdown expected at 0.0836. No bearish divergence on the 4-hour chart, so downside can continue. Volume is low, requiring vigilance against sudden spikes. For scalping, watch the 0.0840-0.0836 squeeze; breakouts should be confirmed with quick invalidation (5-10 minute closes).

Short-Term Scenarios

Upside Scenario

Triggered by a 15-minute close above 0.0858. Target: 0.0931 (score 47), partial profit-taking at 0.09. Trigger: RSI rise to 50 and volume increase. Invalidation: Close below 0.0836. Low probability (%30), possible if BTC stabilizes.

Downside Scenario

Activated by an hourly close below 0.0836. Target: 0.0821 and beyond (1W support). Trigger: MACD new low and BTC drop below 87,388. Invalidation: Recovery above 0.0840. High probability (%60+), aligned with current trend.

Bitcoin Correlation

BTC at 87,904 level with a 2.30% decline, bearish; Supertrend bearish and supports at 87,388-86,075-82,852. IOTA has high correlation with BTC (0.85+); BTC’s failure to break 88,729 resistance is triggering altcoin sales. If BTC slips below 87,388, IOTA quickly tests 0.0821. If BTC recovers (to 89,595), IOTA’s 0.0858 breakout chance increases. Main watch: BTC dominance rising, follow IOTA Spot Analysis and IOTA Futures Analysis for altcoins.

Daily Summary and Watch Points

– Critical support 0.0836: Hold leads to sideways, break leads to sell-off.
– Resistance 0.0858: Volume required for breakout.
– Momentum: Bearish bias, watch RSI bottom.
– BTC levels: 87,388 support, 88,729 resistance.
– Risk management: Limit positions to 1-2% risk, keep stop-losses tight (e.g., long invalidation below 0.0836). Short-term trades involve high volatility; do not neglect capital management. No news flow, stay technical-focused. Main focus for tomorrow: 0.0821-0.0931 range.