IOTA Chart Analysis
IOTA continues to fail to close sustainably above our resistance at around 1.20 – 1.25 USD. Currently, we are at around 1.01 USD and have had a bit of a major sell-off.
On the 4H chart, we can easily see that we have already crossed resistance, from the ATH (yellow line), and confirmed it as support. Likewise, a double top pattern could be emerging, although due to the almost oversold RSI, this should not be weighted too heavily.
In order to be able to rise sustainably, it is important that we exceed the above mentioned resistance and confirm it as support. Only then can we move towards the ATH.
We also see little movement in IOTA/BTC at the moment. Here we also do not make it above the resistance at around 0.00004 BTC. The current price is around 0.000021 BTC.
At the moment, we are in our strong support box, which has been providing support since June 2020. The trading volume also continues to decrease significantly since the beginning of 2021.