IOTA Price Analysis: 30 October
With over 6% in losses since yesterday, strong selling pressures could last longer in the IOTA market.
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IOTA was down by almost 7% since yesterday and was trading at $0.250 at press time.
Over the past few days, with the capital flowing out of the IOTA market as outlined by the significant drop of the Chaikin Money Flow Indicator below the zero line, a clear bearish strength was thus being witnessed.
However, at press time, CMF remained neutral as it stayed close to the zero level. The Relative Strength Index also turned south, hovering just above the oversold territory. This indicated a growing presence of selling pressure.
Given the bearish setup, a price action towards the next support at $0.243 remains a possibility over the next few trading sessions.
Learn more about the analysis here. (https://eng.ambcrypto.com/bitcoin-cash-iota-basic-attention-token-price-analysis-30-october/)