• The intraday charts imply that IOTA/USD is vulnerable to correction.
  • The major support si created below $0.2100.

IOTA is the 23th largest digital asset with the current market value of $627 million and an average daily trading volume of $12 million. The coin has gained over 2% in the recent 24 hours and over 3% since the start of Wednesday to trade at $0.2266 at the time of writing. IOT/USD is recovering after the recent sell-off in sync with the market.

IOT/USD: Technical picture

IOT/USD touched the intraday low at $0.2031 and managed to regain some ground. A sustainable move above $0.2200-$0.2220 improved the technical picture, tough the upside momentum is limited by $0.2300, which is reinforced by the middle line of the daily Bollinger Band located above that barrier and 4-hour SMA50. If it is cleared, the upside movement may gather pace and take the price towards $0.2350 with the 4-hour SMA100 located right below this barrier. 

IOT/USD 4-hour chart

The downward-looking RSI on the intraday chart implies that the bulls may have a hard time pushing IOTA price much higher during the day. The local support is created by the above-mentioned area $0.2200-$0.2220. If it is broken, the sell-off will continue towards 4-hour SMA200 at $0.2175. The ultimate downside goal comes at $0.2080 with a combination of daily SMA50, SMA200 and  the lower line of the daily Bollinger Band.

IOT/USD daily chart


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

The Kobeissi Letter reports on Tuesday a $325 billion wipeout in the crypto market capitalization since Friday. Additionally, Bloomberg reports that Citadel Securities, a firm with $65 billion in assets, is exploring a role as a Bitcoin and crypto liquidity provider.

More Cryptocurrencies News
Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin (BTC) continues to trade in red, reaching a low of $88,200 during Tuesday’s early Europen trading session and hitting the lowest level since mid-November after falling 4.89% the previous day.

More Bitcoin News
Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu price hovers around $0.000013 on Tuesday after dropping nearly 12% the previous day. Supply Distribution data shows that whale wallets have decreased SHIB holdings in the last ten days.

More Shiba Inu News
XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

Ripple's XRP joined the wider crypto market decline, plunging nearly 10% on Monday following President Donald Trump reiterating that the US will kick off tariffs on Mexico and Canada.

More Ripple News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP