The beginning of 2020 for IOTA coin held high expectations. The traders have seen the currency performing miraculously under high pressure. The same was anticipated from the first quarter. The second month of the first quarter has completed one week. If we see the last one-month chart of IOTA, then there is almost a 70% upsurge in the price. According to IOTA predictions, the coming months are anticipated to continue with similar momentum.
IOTA Eyes Rebound as MACD Turns Bullish
On January 09, IOTA’s price was trading at $0.17898 with upward momentum. The currency price escalated to $0.2546 by a massive 42.26% in the next 8 days, i.e. 05:00 UTC on January 17. Within a similar period, that means for another 8 days, the price range of IOTA was locked around $0.220. By January 29, the price was at $0.3070. The last few days in January felt a slight pullback pressure. The price dribbled to $0.2949.
From January 09 to 31, the overall progression registered of 62.86%. In February, the first two days reflected upside momentum in the price and touched $0.36456 by 23.98%. Later, the IOTA price dropped to $0.30506 in the next five days. As per the MACD indicator, the MACD line has cut the Signal line recently, and the same reflects that the coin might recover soon.
Currently, IOTA coin is trading near the major support level. It has breached the immediate support level at 0.316147 and the next support level at 0.311417. However, at the time of writing, it initiates a slight recovery.
R1: $0.328467, R2: $0.336057 and R3: $0.340787
S1: $0.316147, S2: $0.311417 and S3: $0.303827
