Price Analysis

IOTA Price Analysis: Dark Shadow Of Bearish Zone Seems to Prevail On IOTA (MIOTA)

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Although IOTA coin has a high probability to spike up, its value can wipe down intermittently in the bearish zone. Its value can thus be affected to an extent in the upcoming days. From the chart, it is evident that IOTA price has quite a few support levels to provide it a good grip over its bullish ranges, but the high volatile market can soon turn down these expectations. Currently, even if any altcoin has its potential to perform beyond a set threshold, it will also definitely lose its worth to a significant amount to BTC subject to liquidity in the crypto market.

IOTA Coin Statistics:

  • IOTA Price in USD: 0.4265 USD (UTC time 03:48)
  • Price in BTC: 0.00005461 BTC
  • Circulating supply: 2,779,530,283 MIOTA
  • Market cap: 1,193,992,949 USD
  • Market rank: 15

IOTA Price Prediction & Analysis:

iota price chart - 5 June

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The 5-day IOTA price chart indicates that it is inclined towards retaining its value to a major extent. It can be seen that from 1st June until the midday of 3rd June, IOTA price was fluctuating, although it remained in a complete bullish zone. On 1st June 2019, its value reached at a peak point of 0.5132 USD, which also provided an effective resistance level for a short term to the persistent bull trend till 3rd June. From the day end of 3rd June, its value started falling down gradually, and it sharply declined to be traded at a value of 0.4179 USD yesterday. So, within a span of 5 days, the value of IOTA coin has decreased by 18.56% from the price mark of 0.5132 USD. The down trending arrow highlights that the value of IOTA coin in the upcoming days is expected to be in the bearish trend only. Considering all these facts, we think that IOTA in the next 3-4 days can be trading around 0.4250 USD to 0.4270 USD until the bears strike off.

Conclusion:

IOTA is a potential cryptocurrency which has a good number of users, but the market is highly volatile, it is quite normal that it can lose its value to an extent in the future. However as observed in the total time frame of the coin, we see that it has been falling on a whole since past 1 year now, therefore cannot be considered as a fruitful long term investment.

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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