IOTA Price Prediction Today: Daily (MIOTA) Value Forecast – July 26
- The short and medium-term outlook is in a downtrend.
- Traders may consider selling at key areas with bearish reversal candlestick pattern.
MIOTA/USD Medium-term Trend: Bearish
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA is in a bearish trend in the medium-term outlook. The rejection and exhaustion at $0.3235 in the supply area as the market opened yesterday signaled trend reversal. The bears takeover and pushed the con to $0.2989 in the demand area as yesterday low.
The 4-hour opening candle of today session opened on a bearish note at $0.2998 with a further drop to $0.2956 in the demand area before a brief loss in momentum.
The brief rally was terminated at $0.3079 in the supply area with the resistance at the 50-EMA.
The stochastic oscillator signal points down at 39% with price hovering between the two EMAs. This suggests a downward momentum as money and traders are reflected by the oscillator. $0.2800 in the demand area is the bears' target in the medium-term.
MIOTA/USD Short-term Trend- Bearish
The bears are in control of the market after the bullish exhaustion at the 50.0 fibs, a trend reversal zone which is at $0.3079 in the supply area. The cryptocurrency is down at $0.2986 within the 23.6 fib area as bears target the previous low at $0.2961 for a retest.
Price is below the two EMA and the signal of the stochastic oscillator pots down at 44%. These imply downward momentum in price in the short-term with a breakout imminent the previous low of the day.
Live Iota (MIOTA) Price:
1 MIOTA/USD =$1.4268 change ~ 18.32%
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