![]() This effectively created a triple bottom, which is considered a bullish pattern. Chart By TradingViewShort-term IOTA movementFinally, the two-hour chart shows that IOTA has bounced thrice at the $0.515 horizontal support area. Therefore, the daily time frame readings are in alignment with those from the weekly time frame, suggesting that new lows are on the horizon. Additionally, while the MACD had initially generated some bullish divergence (green line), its trendline is now broken. Similar to the weekly time frame, the RSI and MACD are both falling, the former is below 50 and the latter is negative. While following the line, IOTA reached a new yearly low of $0.499 on May 1.Technical indicators in the daily time frame are bearish. While the line has been validated four times, its slope is not certain due to the presence of several long lower wicks. 22, IOTA has been decreasing alongside a descending support line. The level coincides with that outlined in the image above.Source: TwitterNew yearly lowsThe daily chart shows that since Jan. As a result of both the price action and indicator readings, the most likely scenario would be a continued descent towards the $0.42 horizontal support area.Chart By TradingViewCryptocurrency trader tweeted a chart of IOTA which shows the price returning to a long-term support level just above $0.40. The reason for this is that both the RSI and MACD are falling, the former is below 50 and the latter is negative. So far, it reached a low of $0.49 on May 2.Technical indicators in the weekly time frame are bearish. Initially, the price bounced five times (green icons) at the $0.75 horizontal support area.Still, it failed to initiate an upward movement and finally broke down on April 11, 2022. There are no bullish reversal signs in the long- or the medium-term.IOTA has been decreasing underneath a descending resistance line since reaching a high of $2.74 on April 16, 2021. ![]() For more information please read our full risk warning and disclaimer.IOTA has broken down from a horizontal support area that had previously been in place for more than 300 days. This website does not provide investment, financial, legal, tax or accounting advice. If you are unsure, seek independent financial, legal, tax and/or accounting advice. Investing is not suitable for everyone ensure that you have fully understood the risks and legalities involved. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Past performance is not an indication of future results. When trading in stocks your capital is at risk. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Past performance does not guarantee future results. Trading cryptocurrencies is not supervised by any EU regulatory framework. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.Ĭryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Each investment is unique and involves unique risks.ĬFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. ![]() We may receive financial compensation from these third parties. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates.
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