IOTA (MIOTA) Enters A Long-term Bearish Zone In The Market 

The price of IOTA is Bearish against the USD and against Bitcoin short-term. The supply zone is at $1.8000, $1.6000, $1.0000 while the demand zones are at $0.2000, $0.4000 and $0.0500. The cryptocurrency is bearish long-term and the bears are going to keep dominating the market as long as the price remains below $0.5003 which is in the demand area. The price formed a bullish longtail candle on the 12th of September to suggest that a trend reversal is on the way. The bulls were able to gather some momentum to push the price of IOTA toward $0.6167 which was in the supply area on the 14th of September.

IOTA (MIOTA) Price Today – MIOTA / USD


Unfortunately, the bulls lost momentum when the daily candle closed in favor of the bears. The price of IOTA was below the two EMAs this morning. The 10 EMA acted as resistance preventing any significant upward movement. The stochastic oscillator is currently at region 22% in the oversold territory and the signal is pointing down. This shows that the journey south will continue long-term. More candles will form and close below the 10-EMA. This is according to the price analysis of Azeer M on Bitcoin Exchange Guide.

IOTA (MIOTA) Price Now!

At the time of writing, IOTA (MIOTA) was trading at $0.565025. This indicates a 0.89% fall against the USD and a 0.22% fall against Bitcoin. The trading volume over a 24 hour period is $20,311,323 while the market cap is $1,570,502,799. The next few days of trading will determine if the price action will change.

IOTA (MIOTA) has already reached a maximum supply of 2,779,530,283. This means that the IOTA tokens in circulation are the only ones that will ever be. More tokens will not be added except old ones are destroyed. The IOTA foundation is making waves in the industry especially in the IoT market. Soon, IOTA will be the leading platform for IoT devices.


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