IOTA is displaying moderate signs of recovery following a consistent price drop. Key levels identified on technical charts may influence future movements.
Current Situation on the Hourly Chart
A recent bullish push is observed on the hourly chart after a prolonged decline. IOTA has reclaimed levels above the 20 SMA and 50 SMA, currently challenging the 100 SMA at $0.2166.
- Resistance zone: $0.2166 to $0.2196 (100 SMA to 200 SMA)
- Support zone: $0.2071 (short-term moving averages and recent horizontal support)
A closing of several hourly candles above the 200 SMA could signal a short-term trend reversal.
Daily Chart Analysis
The daily chart presents a more cautious outlook. IOTA recently bounced from the 50-day SMA at $0.2004 but remains below key levels.
The daily 200 SMA at $0.2464 continues to act as a ceiling, and a strong push above this zone is needed to regain bullish momentum. The current price is attempting to hold above $0.21, adding weight to the $0.20–$0.21 support zone. A breach of this level may lead to a drop to $0.19.
Short-Term IOTA Price Prediction
Considering a potential breakout from this symmetrical zone between $0.2070 and $0.2166, target levels can be calculated.
- Width = $0.2166 – $0.2070 = $0.0096
- Breakout target = $0.2166 + $0.0096 = $0.2262 (bullish breakout)
- Breakdown target = $0.2070 – $0.0096 = $0.1974 (bearish breakdown)
These provide clear near-term targets.
IOTA is at a critical junction. A break above $0.2196 on the hourly chart is likely to lead to a move toward $0.225–$0.235, aligned with Fibonacci retracement levels. Failure to maintain above $0.2070–$0.2100 support may result in a decline toward $0.197 or lower.
