Price Analysis

IOTA Price Analysis: Bears Continue To Dominate IOTA, Trades With A Bearish Outlook

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Let us look at the price comparison of the coin since the past month. IOTA was valued at $0.41 on 8-July-19 at 19:00 UTC. It could not sustain its performance and began to recede downwards without a major rise in the price. There were few sharp falls, and the price fell as low as $0.25 on 16-July-19 at about 19:00 UTC. Post the said date; the coin has managed to rise upwards. From 27-July-19 to date, the prices have been more or less stable without any drastic rise or fall as such. We anticipate that the bearish run may continue for a few more days for the coin post just to gather the pace and bounce back.

Current Statistics of IOTA:

  • The coin is stably ranked at 19th position in the crypto market.
  • As per 07:04 UTC time today, the market value of the coin was 759,746,730 USD.
  • The current trading price of the coin is $0.27 at 7:28 UTC.
  • 24-hour volume figures are $8,082,012.
  • 2,779,530,283 IOTA coins are being traded.
  • The coin offers an ROI of -57.17%.

IOTA price comparison is given below:

IOTA Price Prediction
IOTA Price Chart by Tradingview

IOTA Price Comparison and Future prediction:

If we compare the price of the coin with the highest price of the said time frame which was $0.41 on 8-July-19 and the current price, the present movement of the coin indicates a bearish run by 34%.

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Looking at the movement of the coin over the past one month, the coin has managed to bounce back from the fall though the rise in prices has not been as substantial as compared to the beginning of last month where it was going great guns.

Hence the coin may be traded close to around $0.26 by the end of the day tomorrow. After about a few month’s time, the coin may be traded close to the range of $0.35 and $0.43.

Conclusion:

The current momentum of the coin indicates a “sell” signal. The MACD indicator also points out that the current movement of the coin is a bearish one. Although the coin has the ability to reach newer heights, however, it needs to maintain its efficiency levels with consistent performance.

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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