MIOTAUSD is dangling behind a key level, if the price breaks out from there, the market price will likely move higher to the next resistance level.
Support levels: $0.40, $0.47, $0.57
Demand levels: $0.35, $0.26, $0.23
MIOTAUSD Trends: Ranging
The coin is yet to define its major trend. The price is has tested the price resistance area of $0.047, and until it breaks out of this level the bullish trend cannot be assumed since this area has been tested more than twice within the weekdays. Thus a waiting attitude might be applied.
The MACD Histogram bars are yet to confirm the bullish trend, as well as its signal lines. But the 14 and 50 Exponential Moving Averages are crossed for a bullish indication.
MIOTABTC Market Analysis
The market reversed after hitting a key price level yesterday. There was also a price action formation within the area that contributed to effecting the price reversal; hence the price is heading to the next resistance level.
The signal lines and the Histogram bars of the MACD Indicator are crossed for a bullish indication, and the price is ascending to the meet with 50 Exponential Moving Averages, after surpassing the 14 Exponential Moving Average.
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