2 min read 

The past week was again really bad for IOTA. On a week-on-week basis, the value of IOTA fell 14.5% and 9.2% in the last 24-hours

Key Highlights

  • IOTA continued its downfall and with two prominent downward trend line
  • IOTA/USD is now at $0.41 after losing 9.2% in the last 24-hours
  • Strong resistance was faced at $0.47 level

Considering the weekly chart, two significant downward trends can be seen. A strong resistance at $0.47 pushed the value downward multiple times. Though a buying surge breached the value, for instance, it could not hold it and fell instantly. We have seen support level around the zone of $0.42 and $0.41, but it finally could to hold the value and it dipped further down.

IOTA/USD Technical analysis

The single-day chart is dominated by the strong declining trend with hardly any sign of recovery. The value dropped from $0.456 to $0.418 in the last 24 hours. That is a 9.2% decline. The Alligator tool clearly shows the downward trend.

The MACD is signaling a crossover, but with the trend, it’s likely to go flat or with a small gain in the value. The RSI is now at 44% after touching the 30% line.

IOTA Analysis - Indicators MACD RSI Alligator

Against BTC, the value of IOTA dropped 12.5 percent in the past 24 hours. With the gradually gaining Bitcoin and Ether against USD and falling IOTA on the exchange, IOTA/BTC is likely to fall further.

Like most of the crypto coins, IOTA also endured a huge price surge in the mid-2017, but unlike the major coins, IOTA is falling since then. Not only it could not hold the strong value, but also showing a strong downward trend.

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