Price Analysis

IOTA Price Analysis: Bad Days Are Awaiting For MIOTA

IOTA (MIOTA) With A Strong Indication Of Losing Its Worth To A Substantial Level Against BTC

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The intensity of the volatility and the turbulent and erratic nature of crypto market are snatching away the potentials of crypto like IOTA. It’s been two days IOTA price is continually running through bearish trend line with no positive and upcoming indication of reviving its value back. This is the reason why a strong sense of hopelessness has ushered in its community and majority crypto investors are accusing the market condition only. It is also expected that in the upcoming days, the state of the cryptocurrencies, including IOTA can even deter down no matter how much potentials they have or what updates they are bringing to have more users.

IOTA Coin Statistics:

IOTA Price in USD 0.4333USD (UTC time 02:55)
IOTA Coin Price in BTC 0.00005542 BTC
Circulating supply 2,779,530,283 MIOTA
Market rank 15
Market Capitalization $1,210,697,260 USD

IOTA Chart at TradingView:

IOTA Price Chart 5 days - 6 June

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IOTA Price Prediction & Analysis:

The above 5-day chart shows that in the earliest days with the onset of June, IOTA coin made an excellent attempt to maintain its bullish trend in spite of facing turmoil in the intense, volatile market. But as the days are passing by, it seems like IOTA is reducing its momentum and is gradually losing its worth. On 1st June 2019, IOTA reached a peak of 0.5128 USD. Although it had the slightest dip on 3rd June until then, it tried hard to hold to its value. From the night of 3rd June, it started declining steeply and had reached a trading value of 0.4180 USD. It further aggravated to 0.4116 USD. So, within five days only, the value of IOTA steadily declined by 19.73%. Its ineffective support levels also contribute to this misfortune of IOTA. Due to this condition, it’s a masterstroke in the upcoming days will be difficult. Considering these facts, we assume that IOTA can trade around 0.4300 USD for 1-2 days until it breaks the said price.

Conclusion:

As from the analysis, it is evident that the rise in IOTA price will not be relaxed and even if it happens, it will not be persistent enough to give high hopes regarding huge profits on its long-term investment. The market condition is highly unstable, fluctuations in IOTA’s value will be unavoidable and is subjected to gradually lose its worth to BTC even in the upcoming days.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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