Price Analysis

IOTA Price Analysis: Bears Continue To Dominate IOTA, Same Trend Likely To Continue For Few More Days

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IOTA started trading around $0.28 on 4-Aug-19 at 12:45 UTC. It slowly started to rise upwards, and it managed to peak at the trading price of $0.30 on 5-Aug-19. However, post the said date the price of the coin until now is declining. Over the past 5 days, the trend of the coin has seen several sharp rises and falls, and prices have been changing rapidly. While writing this analysis, the trend of the coin was bearish, and we anticipate that the same trend will continue before it rises back to trade in the bullish zone.

Current Statistics of IOTA:

  • IOTA is currently ranked at 19th position in the crypto market.
  • As per 09:43 UTC time today, the market value of the coin was 732,409,009 USD.
  • The current trading price of the coin is $0.26.
  • 24-hour volume numbers are $8,366,047.
  • 2,779,530,283 IOTA coins being traded are constant for several days now.
  • The coin offers an ROI of -58.79%.

IOTA price comparison since the past 5 days is given below:

IOTA Price Prediction
IOTA Price Chart by TradingView

IOTA Price Evaluation and Future Forecast:

Comparing the price of the coin with its highest price of the said time frame was $0.30 on 5-Aug-19 at 11:35 UTC time and the present price, the trend of the IOTA points out a bearish run by 13%.

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IOTA is expected to trade within the same price range for the rest of the day today.

Conclusion:

It is recommended to go short with the investment in IOTA as per the present trend of the coin. After about a week or so once the coin manages to bring back its efficiency levels, it can reach as high as $0.44. Hence it is advisable to trade in the coin with a long-term vision as it will prove to be a good asset in the long run.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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