IOTA Price Prediction Today: Daily (MIOTA) Value Forecast – June 14
- The short-term is in a bearish trend while the medium-term outlook is in a range-bound market.
- Responsible selling after bullish pullback may be considered.
MIOTA/USD Medium-term Trend: Ranging
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600
IOTA is in a range-bound market in the medium-term outlook. The large bearish engulfing candle at $0.4741 that closes the session on 3rd June sets the cryptocurrency in consolidation. $0.4503 was yesterday while $0.4282 in the demand area was the low during yesterday session as the coin ranges.
The bears sustained the momentum as the market opens today at $0.4376 with a further drop to $0.4176 as bears push the cryptocurrency towards the lower price range.
The stochastic oscillator signal is pointing down at 27% and price below the crossover an indication of downward momentum in price within the range.
The cryptocurrency is in consolidation and trading between $0.4600 in the upper supply area and at $0.4000 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
MIOTA/USD Short-term Trend- Bearish
The double top formation at $0.4496 in the supply area at the close of yesterday session return the market to the bears' control. The breakdown in price at the two EMAs confirm the bears' takeover.
MIOTAUSD fell initially to $0.4289 and created a bearish flag before dropping to $0.4181 in the demand area.
Price is below the two EMAs and the stochastic oscillator signal points down at 18% in the oversold region an indication of further downward movement in price. $0.4100 is the bears’ next target in the short term with stronger pressure on price by the bears.
Live Iota (MIOTA) Price:
1 MIOTA/USD =$0.9490 change ~ -1.81%
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