IOTA Price Prediction Today: Daily (MIOTA) Value Forecast – July 19
- The bulls are in contrtol of short and medium-term outlook.
- Traders may consider buying at key areas.
MIOTA/USD Medium-term Trend: Bullish
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA is back in a bullish trend in the medium-term outlook. The cryptocurrency is in an inverse head and shoulder pattern suggesting an imminent rally. The bulls began the journey up north on 17th July with an engulfing candle at $0.2652. MIOTAUSD rose to $0.3131 on 18th July.
Today session began on a bearish note at $0.3053. This was a market correction as price drops to $0.2885 in the demand area and closed with a wick suggesting exhaustion as the bulls stage a comeback.
With the tweezer bottom formation at $0.2885 the bulls resume the uptrend, this is the completion of the right shoulder.
Price is within the two EMAs and the stochastic oscillator signal is parallel at 82% an indication of current consolidation before a breakout.
$0.3600 in the supply area is bulls target in the medium-term.
MIOTA/USD Short-term Trend- Bullish
The bulls are currently in control of the market to push price to the next high at $0.3750 in the supply area. This is because of the weakened of the bearish pressure as today session opened. The journey up north began at $0.2597 in the demand area on 17th July.
The two EMAs are strong support for the bulls with exhaustion in the candles denoted by wicks.
$0.3750 in the supply area is up for a retest as the rally is sustained in the short-term.
Live Iota (MIOTA) Price:
1 MIOTA/USD =$1.1431 change ~ -3.38%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research