IOTA Price Forecast: IOT/USD rise hampered by the SMA 20 curve

IOT/USD bulls managed to break the $0.23 price barrier.
The SMA 20 curve acts as immediate market resistance.
The Elliott Oscillator has had a green session, following 11 straight red sessions.

Rajarshi Mitra Independent Analyst

IOT/USD daily chart

IOT/USD jumps from $0.217 to $0.231 as the bulls took charge broke past the $0.22 and $0.23 psychological levels. The MACD shows decreasing bearish market momentum, while the Elliott Oscillator has had a green session after 11 straight red sessions.

Support and Resistance

The SMA 20 curve acts as immediate market resistance. Up ahead, strong resistance levels lie at $0.24 and $0.25. On the downside, healthy support levels lie at $0.225, $0.217, SMA 50 and SMA 200.

Key levels

IOT/USD

Overview
Today last price	0.2309
Today Daily Change	0.01356
Today Daily Change %	6.24
Today daily open	0.21734

Trends
Daily SMA20	0.23176
Daily SMA50	0.21086
Daily SMA100	0.18184
Daily SMA200	0.20383

Levels
Previous Daily High	0.22147
Previous Daily Low	0.21652
Previous Weekly High	0.23036
Previous Weekly Low	0.20317
Previous Monthly High	0.24165
Previous Monthly Low	0.16622
Daily Fibonacci 38.2%	0.21958
Daily Fibonacci 61.8%	0.21841
Daily Pivot Point S1	0.21542
Daily Pivot Point S2	0.21349
Daily Pivot Point S3	0.21047
Daily Pivot Point R1	0.22037
Daily Pivot Point R2	0.22339
Daily Pivot Point R3	0.22532

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.