IOTA Technical Outlook: Indicators Turn Bullish, Eyes on $0.23 Breakout
IOTA has shown signs of stabilizing above recent lows, with the latest daily closes suggesting buyers are attempting to build a base for recovery.
The cryptocurrency managed to rebound from sub-$0.20 levels and is now trading closer to its short-term moving averages, hinting at improving sentiment.
IOTA Technical Indicators and Market Outlook
Momentum indicators for IOTA show a subtle but steady bullish tilt.
The 9-day and 20-day exponential moving averages are converging, suggesting the market is entering a period where buyers are increasingly willing to defend dips.
Daily chart for IOTA/USDT (Source: TradingView)
The MACD line remains above its signal line, with positive histogram readings pointing toward a constructive, albeit slow, bullish shift. Meanwhile, the RSI’s move from oversold territory into the mid-50s underscores that buying pressure is gaining traction without yet being overextended.
This setup indicates that while IOTA is not yet in a strong breakout phase, it has enough momentum to challenge nearby resistance levels if buying interest continues.
Key Support and Resistance Levels
Immediate support rests at $0.2095, with deeper cushions at $0.2065 and $0.2007. A breakdown below these levels could weaken sentiment and invite renewed selling, especially if broader market conditions turn risk-off.
On the upside, the first real test comes at $0.2221, followed by $0.2277 and $0.2313, which mark stronger resistance zones where sellers have historically been active.
Order Book Insights
The order book reveals crucial liquidity barriers. On the downside, a significant bid wall at $0.1764 with nearly 887,000 units represents a line of defense, though its failure could result in a sharp 16.83% drop. A deeper liquidity wall sits at $0.0659, suggesting that if the market were to lose higher supports, losses could be severe.
On the upside, an ask wall at $0.2290 with over 162,000 units stands as the next hurdle. Clearing it could open room for a 7.97% rise toward higher resistance. Above this, asks at $0.2660 and $0.3000 indicate progressively larger upside potential of 25.41% and 41.44% respectively if bullish momentum accelerates.
Trading Strategy Considerations
For long traders, an entry near $0.2100–$0.2120 with tight risk management below $0.2065 could offer exposure to a move toward $0.2221 and higher. Confirmation above $0.2290 would strengthen the case for medium-term longs targeting $0.2660.
For short sellers, rejections at $0.2221–$0.2277 may provide opportunities to ride the IOTA price back toward support levels at $0.2095 or lower. However, with momentum indicators leaning slightly bullish, shorts should be cautious unless the IOTA price fails convincingly at resistance.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
