IOTA price chart shows the bears are resurfacing with the negative retracement in the dating channel. Will the downfall crack under the $0.30 support level? Key technical points: IOTA market value decreased by 1.18% in the last 24 hours. The falling channel warns of the fallout of $0.30. The 24-hour trading volume of IOTA is $24.27 Million, indicating a fall of 26.84%. Past Performance of IOTA The falling trend in the IOTA prices took the shape of a falling channel and funnels the bearish power in a concentrated manner, resulting in a downfall of 57% after the $0.70 breakout. The downtrend forms a lower high peak formation within the channel displaying weakness in the underlying bullishness leading to the $0.30 retest. Source-tradingview IOTA Technical Analysis The lack of trading volume to support the bearish retracement within the falling channel projects a lack of bearish commitment that may help the IOTA price sustain above $0.30. Therefore, sellers must wait for the price action confirmation to avoid a trap. The MACD indicator shows an uptrend in the fast and slow lines representing a bull cycle in action but the weakness in the MACD histograms warns of a crossover. However, the Stochastic RSI and the RSI indicators promote the bearish ideology and warn of the $0.330 fallout. This is due to the falling trend in the K and D lines and the bearish divergence in the RSI slope. Therefore, the indicators are doubtful about the ...
