IOTA Price Analysis: IOT/USD Consolidate Price After Latest Recovery With a Released Update to IOTA Plus

By March 18, 2020Altcoins
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The IOTA price consolidates with the rest of the crypto-assets. At the beginning of the week, uncertainty returned and bleeding began. Today has witnessed across the board steady and gradual market consolidation. IOT/USD is trading at $0.1150 after a value rise of over 3 percent over the last 24 hours. Thus stability is taking center stage, although IOTA has rectified from a $0.1242 intraday high. The present trend may be giving the upper hand to sellers but the uncertainty stays strong. IOTA developer Marlon Morales released an IOTA Plus Update. The tangle-based IOTA Plus application allows users to get paid to test computer games and IOTA Plus provides a free, open and 100% anonymous application.

*IOT/USD is trading at $0.1150 after rising more than 3% in the past 24 hours
*IOT/USD consolidate price after the last recovery
*IOTA developer Marlon Morales releases update for IOTA Plus

Key Levels
Resistance Levels: $0.2400, $0.1777, $0.1500
Support Levels: $0.1056, $0.0883, $0.0595

IOT/USD Daily Chart: Bearish

The technical chart focuses on the major downtrend IOTA is facing during the market’s overall bearish momentum. IOTA has managed to regain its price level of $0.1056 during the market recovery. It is important to note that, given the losses, after recovering from $0.0595, IOT/USD was relatively stable.

IOTA continues to fuel a $0.1056-level uptrend of the recent confluence zone; which started after last week’s price dip to $0.0595 level. The initial reflex reversal from the acute losses first spiked marginally toward the level of $0.1479. The momentum was unsustainable however, allowing bearish action to take center stage in the last few days.

IOT/USD 4-Hours Chart: Bearish

The Altcoin slipped from $0.1242 to $0.1122 low intraday price level as at the time of publishing. The near-term support level of $0.1056, however, is likely to keep the price mark intact as the overall recovery followed in the market received the much-required boost for the altcoin beyond $0.10 level.

The coin also confronts a net loss of -23.56 percent with a $320,628,560 market cap and a $14,254,243 volume traded. Observing the RSI, the bears are in the driver’s seat but a sideways trend will likely take over. Whether the technical scenario stays the same or increases in the next sessions, there may be a potential for more upward action.

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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