MIOTA (IOTA) is a distributed ledger on the proprietary technology which is known as Tangle. No fee has to be paid to the miners because it is not built on blockchain and does not require mining. The following IOTA technical analysis will predict the price trends for the next two days: Past Performance On 20th May 2021, IOTA started trading the day at $1.13 and on 27th May 2021, it closed at $1.17. Thus, in the past week, the IOTA price range has remained flat. In the last 24 hours, IOTA has traded between $1.15-$1.27. https://ift.tt/3fvtQuq Day Ahead And Tomorrow At the time of writing, this IOTA is trading at $1.18 and has increased by 0.31% in the past 24 hours. Since 26th May, IOTA has oscillated between the support at $1.119 and the resistance of $1.2964. This might be an accumulation period as the volume has decreased by 41% during the same time, indicating a trend reversal. The MACD is currently completing its bearish crossover after a small pullback to the support level going forward we might see a bullish trend. The Relative Strength Index has been pulled towards the oversold zone, indicating the sellers are dominating the market. If this is a strong accumulation period, the price can retest the resistance level. IOTA Technical Analysis As per the Fibonacci pivot levels, the price is trading right above the support level of $1.0802 it has tested the level twice on the daily chart. If the price crosses this level on the downside, traders can short the position with an immediate target of $0.9949 and the stop loss at $1.1341. On the other hand, if the price bounces back from this support level, traders can take a long position keeping the target at $1.3042 followed by $1.3892 and the ideal stop loss should be $1.0802.
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