The IOTA price has been up by 1.69% in the past 24 hours and it seems to be the first step of the currency towards the price recovery. The currency has been through a volatile movement in this period and has been trading between $0.2803 & $0.2683.
IOTA Eyes $0.2862 Resistance
Yesterday, IOTA began trading on a negative note and in the next 4 hours and 49 minutes, it lost $0.0034 and reached $0.2683. This fall was followed by a sharp recovery of 4.50% and this hike pushed the price to $0.2803 by 18:01 UTC. However, IOTA could not sustain the momentum for long and faced a downside correction and lost 1.48% value that cost $0.0041.
If we look at the weekly price trend of IOTA, it has been full of volatility and it marked a weekly high at $0.2868 whereas $0.2676 as the lowest point for the coin.
Technicals
The 50-day MA is at $0.26387783 and the 20-day MA stands at $0.2739805. The current price of IOTA is trading above both the moving averages by 4.76% & 0.90%, respectively. As per the MIOTA Price Prediction and the current momentum, the IOTA price might test the crucial resistance at $0.2862 in the upcoming hours.
Resistance and Support Levels:
R1- $0.2820, R2- $0.2862, R3- $0.2920
S1- $0.2720, S2- $0.2662, S3- $0.2620
