Price Analysis

IOTA Price Analysis: Despite Yesterday’s Fall, IOTA Gains Momentum; Will It Survive The Bullish Run?

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Let us evaluate the performance of IOTA since the past 5 days. Despite the fall of the previous day, IOTA has managed to reach $0.29 on 2-Aug-19 at 08:45 UTC. From 4th Aug till 5th Aug, the movement of the coin was slow and steady towards the upside. It managed to reach as high as $0.2997. Then, unable to maintain its efficiency levels, it started declining to recede downwards. While writing, the IOTA has seemed to pick up its momentum and is slowly started showing an upward movement.

Current Data of the IOTA:

  • Market Cap of IOTA is at 781,925,237 USD.
  • IOTA price was trading at $0.2821.
  • 24-hour volume is $10,850,278.
  • 2,779,530,283 IOTA coins continue to remain in circulation.
  • The coin offers an ROI of -55.91%.

IOTA Price Comparison and Future prediction:

IOTA Price Prediction
IOTA Price Chart by TradingView

Analyzing the price of the coin since its lowest point which was yesterday at about 21:20 UTC wherein the price fell to $0.2742 and the current prices, IOTA is at present reflecting a bullish run by around 3%.

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We predict that the coin may cross to $0.30 mark by the end of the day tomorrow and it may be traded close to the range of $0.31 and $0.40 in the upcoming weeks.

Conclusion:

The MACD indicator points out that the current movement of the coin is bullish. We anticipate that the same trend will continue for the coin for the coming few weeks. You may trade on short term basis on the coin as the fall in prices of the coin have been marginal. However, if you can retain the existing coins until the end of the year, you may possess high returns.

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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