Skip to main content

The IOTA price is facing rejection at the 50-day EMA

 


The IOTA price picked up the price target of the last forecast and was then rejected in a bearish manner at the 50-day EMA.


IOTA Price Prediction: Will IOTA Break Bearish Soon?

About three weeks ago we wrote in the last IOTA price forecast : “A few weeks ago IOTA bounced off the support and rose to the golden ratio at around USD 0.33. Once there, IOTA received a strong bearish rejection, leaving the current corrective move intact.


IOTA is now already finding significant resistance at around $0.282 at the 50-day EMA. In addition, the MACD lines in the daily chart are bearishly crossed and the histogram has been ticking bearishly lower for the last two days.


In summary, it can be said that IOTA is in a bearish trend in the long term as well as in the medium and short term. Still, IOTA could rally to around $0.282 amid the continuation of the downside move. If IOTA breaks this resistance, the next crucial resistance awaits at around USD 0.33.”


The IOTA price has risen sharply in the last two weeks and has reached the price target of the 50-day EMA , which IOTA currently seems to be rejected. With this, IOTA could correct to the 0.382 Fib support at around USD 0.252 or even to the golden ratio at around USD 0.245.


Once there, IOTA could bounce to continue the bullish move. Finally, the MACD lines on the daily chart are still crossed bullishly. The MACD histogram is already ticking bearishly lower today.


Previously, IOTA was bearishly rejected at the golden ratio around USD 0.33, where IOTA could return if IOTA breaks the 50-day EMA currently around USD 0.266.


The 4H chart still has the death cross intact, confirming the trend bearish in the short-term. In addition, the RSI is showing a bearish divergence, after which the IOTA course has already begun to correct downwards.


Furthermore, the MACD lines are bearishly crossed over and the histogram is ticking bearishly lower. So, in the short-term, it looks like a downward move.


The death cross has been active on the weekly chart for a long time

In the weekly chart, the death cross of the EMAs has been intact for a long time, confirming the medium-term bearish trend. However, the MACD lines are bullishly crossed and last week the histogram ticked bullishly higher.


In fact, there is still a chance that IOTA will find the bottom in this bear cycle between USD 0.24 and USD 0.26.


The IOTA course is in a long-term downtrend

In the long term, however, IOTA is still in a clear downward trend. In fact, IOTA is in a parallel downward channel. Still, the MACD histogram is ticking bullishly higher for the third month in a row.


So, despite the bearish outlook, IOTA could soon find a bottom to initiate a bullish reversal, if only in the short term.


Against BTC, the IOTA course was bearishly rejected at the Golden Ratio resistance

The IOTA course was bearishly rejected at the golden ratio resistance around 0.000016 BTC. In addition, the MACD lines on the weekly chart are close to a bearish crossover and the MACD histogram has been ticking bearishly lower for several weeks.


IOTA is now encountering significant Fibonacci support at around 0.0000114 BTC, from which IOTA could bounce upwards.


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.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

Cardano price forecast – price breaks out! Are we near $1.5 soon?

 In our last Cardano price prediction , we wrote that the price could break out soon. The reason for this was a symmetrical triangle. This triangle was performed after the crash, so we expected the price to break down. But now the course has broken out of the triangle in a bullish manner. But how far could the course rise or what is the goal? Today we will explain to you about the Cardano course ! Cardano price broke out of the triangle and was able to rally to the $1.19 resistance. We tested this resistance, and a short time later the price was sold off. The triangle's target was around $1.23, so we now believe the price has completed the target. As a result, we no longer expect a further increase. Instead, the price could now descend and possibly form new lows. If the price breaks the $1.19 resistance, the price could rally to around $1.5. There is the next resistance where the Cardano price could bounce. If Cardano price fails to break the $1.19 resistance, we would expect the p...
Post a Comment
Read more

Tesla Beats Sales Expectations - Bitcoin Holdings Remain Flat

  The car manufacturer presented its report for the fourth quarter on Wednesday evening. Tesla exceeded expectations for sales and profits. Bitcoin holdings, meanwhile, remain unchanged. Tesla (TSLA) published the Q4 report for 2021 last night. Overall, the electric car maker recorded a sales increase of 65 percent in this quarter compared to the previous year. In the automotive sector alone, sales rose to 15.97 billion US dollars. In addition, the US company set a new record profit of 5.5 billion US dollars - an increase of 665 percent over the previous year. Analysts previously expected adjusted earnings of $2.36 per Tesla share. With 2.54, the carmaker was able to significantly exceed this value - with positive effects on the TSLA course, which recorded an increase of almost 4 percent. Tesla's bitcoin holdings, meanwhile, remained unchanged. At the end of the fourth quarter, the value remained stable compared to the previous quarter at $1.26 billion. In February 2021, Elon Musk...
Post a Comment
Read more

Cardano founder doubts Bitcoin's future as world reserve currency

  Cardano's founder doesn't believe Bitcoin has what it takes to become the world's leading currency. Charles Hoskinson stated in a recent interview that he didn't think Bitcoin would become the world reserve currency. According to the founder of Cardano, a cryptocurrency with smart contract features would become the global reserve currency. Hoskinson believes Cardano or Ethereum would become the world reserve currency. A global reserve currency must offer services like smart contracts, metadata standards, and improved throughput that complete enormous transactions per second. According to the Cardano founder , the scarcity of Bitcoin is due to the high cost of production: "If you make paintings, one of which you have to paint by hand and the other by machine, and both look the same and the demand for both is the same, then the effort for one is a thousand times greater than for the other." Hoskinson spoke about Bitcoin's massive energy consumption, addin...
Post a Comment
Read more