MIOTA Price Prediction Today: Daily (IOTA) Value Forecast – June 10
- On the downside, if the bearish pressure continues, the market may reach the lows of $0.35 or $0.38 price levels.
- The crypto's price fell to the low at $0.40 price level from the $0.50 overhead resistance.
IOTA/USD Medium-term Trend: Bearish
- Resistance Levels: $0.50, $0.55, $0.60
- Support Levels: $0.45, $0.35, $0.30
Last week the price of IOTA was in a bearish trend. On June 3, the IOTA market was on a downward correction after the $0.50 overhead resistance level. The crypto's price fell to the support of the 26-day EMA and commenced a range bound move above the 26-day EMA. On June 9, the bears broke below the 26-day EMA. The crypto's price fell to the low at $0.40 price level from the $0.50 overhead resistance.
The crypto's price is below the EMAs which indicates that price is likely to further depreciate. On the downside, if the bearish pressure continues, the market may reach the lows of $0.35 or $0.38 price levels. From the Fibonacci retracement level, the crypto is in the downtrend zone of the 0.50 (50%) and 0.618 (61.8%) Fib. retracement levels. The bears have erased about 50% of the crypto's bullish gains. Meanwhile, the IOTA market is at the oversold region of the daily stochastic but below the 40% range. This indicates that price is in a bearish momentum and a sell signal.
IOTA/USD Short-term Trend: Bearish
On the 1-hour chart, the price of IOTA is in a bearish trend zone. On June 8, the bulls were resisted and the market fell to a low at $0.40 price level. This was the previous low of June 6. On the upside, if the $0.40 price level is holding, the bulls will make a bullish move to break above the EMAs.
The coin is currently trading at $0.41659 as at the time of writing. Nevertheless, the IOTA price is in the overbought region of the daily stochastic but above the 60% range. This indicates that price is in a bullish momentum and a buy signal.
Live Iota (MIOTA) Price:
1 MIOTA/USD =$1.8743 change ~ -3.26%
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