MEXCIOTA Price Prediction: Price Jumps 29%; Is Time To Book Profit Or Hold?
IOTA price trades higher with remarkable gains on Thursday. The price tested five months high near $0.055 in a strong move. The current price action suggests the bullish momentum is expected to further at least in the short-term.
- IOTA extends the previous session’s gains.
- A decisive close above $0.050 will bring more gains in IOTA price.
- The price rallied more than 70% in two days.
IOTA is ready to soar
On the daily chart, the IOTA price rallied 45% in just two days amid strong buying momentum. The volumes also zoomed abruptly to support the price momentum. The $0.050 remains a crucial level to trade as the price traded below the mark since November. In addition to that, the IOTA price for the first time sliced above the crucial 200-EMA (Exponential Moving Average) in the past five months.
Now, if the price manages to close above $0.050, it would increase the probability of the continuation of the upside momentum. In that case, the bulls will first take out the highs of October 8 at $0.060.
Furthermore, an increased buying momentum will push the price toward the horizontal resistance level placed at $0.070.
On the contrary, a shift in the buying sentiment or if the bulls lack the buying conviction the price could retrace back to the lower levels. On moving downside, investors would collect the liquidity near the supply zone at $0.03.
A break below this level would raise the possibility that the price could revisit $0.025.
As of press time, IOTA/USD is trading at $0.04, up 26.60% for the day. The 24-hour trading volume is holding at $2,357,127,249 as reported by the CoinMarketCap. The volume rose exponentially in accordance with price. In general, this is a bullish sign for the price.
Technical indicators:
RSI: The daily Relative Strength Index trades above 75, which is an overbought zone. A downtick in the indicator could weaken the bullish outlook.
MACD: The Moving Average Convergence Divergence holds above the midline with a strong upside momentum.
- MSTR Stock, Strategy’s Unrealized Gains Slip Amid STRE Preferred Shares Offering
- NEAR Intents Blur the Line Between What Humans and AI Can Accomplish
- “Never Had Plans to Sue Binance,” Wintermute CEO Evgeny Gaevoy Confirms
- Ripple Swell Conference 2025: How to Watch, Date, and Expected Impact on XRP
- Crypto Market Crash as $595.8M in Longs is Liquidated, Bitcoin Slides to $105,000
- Solana Price Eyes Rebound as Institutional Demand Tops $3.2B YTD
- Will Hyperliquid Price Hit $50 After OKX Listing?
- Top 3 Developments That Could Impact Bitcoin Price This Week
- Chainlink Price Eyes $30 Rebound as FTSE Russell Collaboration and Supply Squeeze Fuel Optimism
- Ethereum Price As Stablecoin Volume Hits ATH of $2.82T Despite Struggling Crypto Market- Is a Recovery In Sight?
- XRP Price Forecast: Spot ETF Approval Could Propel Token to $3.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
