IOTA Technical Analysis: MIOTA struggles to breach $0.47 resistance

Crypto market is currently witnessing a bear storm. Tether [USDT] is the sole token trading in green among the major cryptocurrencies. The previous bear wave which pulled down the market on the November, 14 was due to the Bitcoin Cash hash war. However, there is no apparent reason for today’s downfall. The tumble has wiped out $8.87 billion from the overall market cap with most coins exhibiting oversold levels.

IOTA prices have fallen without finding support today. The crypto market crash has caused it to exhibit double digit losses throughout the day. The crypto is currently facing resistance at $0.37. The coin has wiped off $126 million from its market cap after the bear storm hit the market.

MIOTA/USD

At the time of writing, MIOTA prices seem to have found support at $0.35. MIOTA prices can recover if it surpasses the major resistance level traced at $0.42. The MACD shows that the coin is till under the pressure of a severe bearish momentum. The RSI levels indicate that the MIOTA was oversold for eight hours during the day. The RSI levels seem to be on the path to recovery as a weak buyer pressure can be traced in the market. The 100 EMA line trading at $0.412 is exhibiting a downtrend. MIOTA is currently trading at $0.366 and is falling by 11.36% with a market cap of $1.019 billion.

MIOTA/BTC

IOTA is falling against BTC by 4%. At press time, one IOTA is equal to 0.00007101 BTC.

IOTA Latest Updates

IOTA foundation has recently added three new members to their team. The members were a part of the community foer a long period of time. The new additions include  mathematician William Sanders, physicist Andreas Penzkofer to the team. And Luigi Vigneri, computer scientist.

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