Bulls could push higher if IOTA breaks above $1.55, with the next target near $2.00.
What is the current IOTA price?
The IOTA price remains under selling pressure as bulls try to stabilize it above $1.50. The cryptocurrency is currently trading around $1.49 after failing to sustain gains above $1.60 and $1.55.
Although bears could still drive prices back toward recent lows near $1.27, a shift in sentiment across the broader crypto market would likely favor the bulls.
In that scenario, IOTA price action could see increased buying in the coming days, potentially pushing toward $2.00.
IOTA price analysis
Earlier this week, IOTA rallied to $1.84 as the market responded to the cryptocurrency’s Chrysalis upgrade. However, upward momentum faded when bears quickly pushed IOTA/USD lower amid widespread crypto sell-offs following Bitcoin’s rejection.
Afterward, the pair pulled back further as BTC fell to lows around $50,360 on March 25 and IOTA dropped to $1.27.
Since then, IOTA bulls have staged a recovery, even re-testing the $1.60 support and reaching intraday highs near $1.66. On the 1-hour chart, a key bullish trendline has formed with support near $1.47.
On the upside, IOTA could gain further after a breakout above a descending triangle pattern. If the technical setup on the hourly chart proves correct, bulls may push toward the 100 SMA from the $1.51 area.
Both the MACD and RSI suggest a continuation of the uptrend for IOTA/USD, with the MACD expected to strengthen within bullish territory. The RSI is slightly curving upward and sits above 60, indicating bulls are in control.
If buying pressure keeps prices above the horizontal resistance at $1.55, the next target would be $1.80. A successful test and break through that supply zone could enable bulls to challenge the $2.00 threshold.
On the downside, bears could press prices toward initial support at $1.42. If bulls fail to defend this area, a renewed decline toward $1.40 would expose IOTA/USD to the risk of further losses down to $1.30.