IOTA recorded a 6 % increase in prices last week, but it prints a potential Philippe that can see its price decrease sharply.
This price prediction of IOTA is in line with the market weakness in general, as major cryptocurrencies are traded near the main support or resistance levels.
It is worth noting that the gains of risk assets are still diluted due to the constant uncertainty in the customs tariff, and the facts alive and why there are noticeable profits for the best winners throughout the market.
IOTA price today
The price of most coins is hovering, including Bitcoin (BTC), ETHEREUM (ETH) and Solana (SOL) in green.
Some coins spread a noticeable storm. However, the new sales pressure in the futures market indicates that prices may decrease to support, probably $ 80,000 for BTC.
The price of IOTA today, with gains less than 1 % over the past 24 hours, indicates a possible reflection if buyers fail to control.
Altcoin is trading near $ 0.16, an increase of less than 1 % in the past 24 hours. However, Altcoin draws a descending triangle style – a warning mark for bulls.
This level is pivotal. The sliding below can encourage the bears to pay about $ 0.13, with more tests that are likely to test an area of $ 0.10.
IOTA price: Do derivatives indicate a market problem?
The broader encryption market reflects a similar warning, as the pressure of the future market hints in a decline.
Likewise, IOTA conflicts are related to dynamics in the derivative market.
Funding rates, which balance futures prices with immediate prices through payments between buyers and sellers, flirt with negative lands.
The negative financing rate indicates hybrid morale among merchants, and often predicted the decreases in prices.
Regarding this, IOTA’s open interest has been stagnated since early this year. It reflects the enthusiasm of flowing among traders.
Flat open benefit associated with decline Funding rates Draws a bleak picture – the extended downward trend can be achieved if these trends persist.
Outlook for IOTA graph
On the charts, IOTA bends a descending triangle. This can accelerate the landmark, with the support level of $ 0.14.
If Bulls can withstand the above, they can join a sharp decrease.
However, the break below, risk a fast slide to $ 0.13 or less. It is also possible to look at the RSI. The scale is currently sitting below the neutral sign, hinting to weakness.
Meanwhile, the oscillary of the stochastic, although above the average level, is heading down, and confirms an accurate accumulation of downtown pressure.
These indicators indicate that the IOTA path in the short term can be rocky unless the upscale stimulus appear.
