In new technical analysis, Miota is an open-source blockchain protocol based on DLT (Distributed Ledger Technology). It is designed for IoT (Internet of Things) and is a zero fee and highly secured value transfer protocol. It follows a citizen-centric approach and can be used for digital transactions across borders. IOTA is the prime governance token of this network. Past Trends On April 8, 2021, the opening price of IOTA was $1.66. As of April 14, 2021, IOTA closed at $2.12. Thus, in the past week, the IOTA price has risen by roughly 28%. In the last 24 hours, IOTA has traded between $2.08-$2.12. https://ift.tt/3mNyW74 Day-Ahead and Tomorrow Currently, IOTA is trading at $2.12. The price has not increased much from the opening price of $2.119. Thus, the market seems neutral. The MACD and signal lines are positive. Thus, the overall market momentum is bullish. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, we can expect an intermittent price pullback amidst an overall positive trend. The OBV indicator has risen sharply. Thus, buying volumes are higher than selling volumes. Heavy demand for crypto will push its price further up. The RSI indicator is at 49%. It faced rejection at 56% and fell to the current level. Thus, selling pressures are high. Hence, we can expect the price to drop. MIOTA (IOTA) Technical Analysis As per technical analysis, the price is currently above the Fibonacci pivot point of $2.12. As we have got mixed signals from the oscillators, we can expect some price corrections to happen in the market. As of now, the price is steadily falling and it may fall up to the first support level of $2.09 before resuming its upward journey. The price is soon likely to test and fall below 23.6% FIB retracement level of $2.11. If the price falls below 76.4% FIB retracement level of $2.09, by day end, then probably a downtrend has set in. This bearish trend may continue tomorrow as well.
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