IOTA Trend May Be Changing as Price Just Breached Above Its 20 Day Moving Average

The Hourly View for IOTA

  • Currently, MIOTA’s price is down $-0.02 (-1.8%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as IOTA has now gone down 8 of the past 10 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Of note is that the 50 hour changed directions on MIOTA; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

IOTA’s hourly price chart is shown below.

MIOTA

The Daily View for IOTA

  • At the time of this writing, MIOTA’s price is down $-0.08 (-7.23%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of IOTA.

MIOTA

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