IOTA price under pressure as broader crypto market weakens

IOTA has registered a 6% price increase in the past week, but is printing a potential bearish flip pattern that could see its price drop sharply.

This price prediction for IOTA aligns with overall market weakness, where major cryptocurrencies are trading near key support or resistance levels.

Notably, gains for risk assets remain tempered with continuing tariff uncertainty, a fact investors are alive to and why there’s notable profit taking for top gainers across the market.

IOTA price today

The price of most top coins, including Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) hover just in the green.

Some coins are posting notable surges. However, fresh selling pressure in the futures market suggests prices may fall to support, likely $80k for BTC.

IOTA’s price today, with gains of under 1% in the past 24 hours, indicates a potential reversal if buyers fail to take control.

The altcoin trades near $0.16, up less than 1% in the past 24 hours. However, the altcoin is sketching a descending triangle pattern—a warning sign for bulls.

This level is pivotal; a slip below could embolden bears to drive prices toward $0.13, with further declines potentially testing sub-$0.10 territory.

IOTA price: are derivatives market signaling trouble?

The broader crypto market reflects similar caution, with futures market selling pressure hinting at a retreat.

Similarly, IOTA’s struggles are tied to dynamics in the derivatives market.

Funding rates, which balance futures contract prices with spot prices through payments between buyers and sellers, are flirting with negative territory.

A negative funding rate signals growing bearish sentiment among traders, often foreshadowing price declines.

Compounding this, IOTA’s open interest has stagnated since early this year. It reflects waning enthusiasm among leveraged traders.

Flat open interest paired with declining funding rates paints a grim picture – an extended downtrend could materialize if these trends persist.

Chart outlook for IOTA

On the charts, IOTA is carving out a descending triangle. This could accelerate the downtrend, with the $0.14 support level critical.

If bulls manage to hold above, they could stave off a steeper decline.

A break below, however, risks a swift slide to $0.13 or lower. Declines are also likely given the Relative Strength Index (RSI). The metric currently sits below the neutral mark, hinting at weakness.

Meanwhile, the Stochastic Oscillator, though above its mid-level, is trending downward, underscoring a subtle buildup of bearish pressure.

These indicators suggest IOTA’s near-term path could be rocky unless bullish catalysts emerge.