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IOTA price forecast: How low can the IOTA price fall?

 


The IOTA course was bearishly rejected at the Fib level at around USD 0.3, leaving the correction intact. How low can IOTA fall?


The last IOTA price forecast was two weeks ago. There we wrote: “IOTA price broke the golden ratio support bearishly at around USD 0.28 and then bounced off the middle line of the parallel downward channel. The IOTA course was then able to rise to the golden ratio of around USD 0.3, but IOTA was strongly rejected.


IOTA is again at the golden ratio support at around USD 0.28. Additionally, the histogram of the MACD on the daily chart is ticking bullishly higher while the MACD lines are still crossed bearishly. The RSI is neutral.


Should IOTA bounce off again, the crucial Fib resistance is waiting at around USD 0.33. Because the correction is only over when IOTA breaks the golden ratio at around USD 0.33.”


The IOTA course was rejected bearishly at the Fib level


IOTA price surged to the 50-day EMA around $0.3, encountering bearish rejection at the 0.382 Fib resistance . With this, IOTA could not reach, let alone break, the important Fib resistance at around USD 0.33, leaving the correction intact.


Thus the IOTA course is again at the same low point as a few days ago.


In addition, the histogram of the MACDs in the daily chart is ticking bearishly lower and the MACD lines are crossed bearishly, while the RSI is neutral.


In the 4H chart, the Death Cross remains intact

On the 4H chart, the Death Cross remains intact, confirming the trend bearish in the short-term. However, the RSI shows a bullish divergence and the MACD histogram is also ticking bullishly higher. Furthermore, the MACD lines are crossed bullishly.


In the short term, the IOTA course could move up.


The death cross is also intact in the weekly chart

A death cross was also established in the weekly chart, which confirms the trend in a bearish medium-term. Between USD 0.2 and USD 0.254, IOTA finds significant support.


On the upside, significant Fib resistances are still waiting around USD 0.3 and USD 0.33. Barring a break in the golden ratio around $0.33, the correction remains intact.


In addition, the MACD lines in the weekly chart are still bullishly crossed. The RSI gives neither bullish nor bearish signals. However, the MACD histogram is already ticking bearishly lower this week.


In the medium term, IOTA may return to the support zone between USD 0.2 and USD 0.254.


IOTA's long-term trend clearly remains bearish

In the monthly chart, the IOTA price is still in a parallel downward channel. However, IOTA is still at the midline of the channel, which serves as significant support.


Should it be broken, IOTA must bounce off the support between USD 0.2 and USD 0.254 at the latest. Otherwise, IOTA will only find significant support again at around USD 0.0755.


In addition, the monthly chart's MACD lines are still bearish crossovers, while the RSI is showing neutral but gradually reaching oversold regions. What is bullish is that the MACD histogram has been ticking bullishly higher for the last month.


Against BTC, IOTA is still floating between two Fib levels

Against BTC, IOTA moves between golden ratio resistance at around 0.000016 BTC and 0.382 Fib support at around 0.00001312 BTC. Should the support break bearishly, IOTA will find the next significant Fibonacci support around 0.000011 BTC.


However, the histogram of the MACDs has been ticking bullishly higher in the daily chart for the past few days, which means that IOTA could bounce off the support again. The 200-day EMA is already acting as a significant resistance at around 0.00001525 BTC.


However, the MACD lines remain bearishly crossed and the RSI does not give any bullish signals either.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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