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Price Analysis

IOTA Price Analysis: IOTA (MIOTA) Landing In The Bearish Zone Again

The hopelessness among investors on IOTA will be highly prevalent throughout this year. The condition of the crypto market is in complete turmoil with no significant change yet. Although IOTA tried to push up its value, but due to repeated declination, it is getting harder for it to have an effective support level. The bearish ranges of IOTA are getting much stronger than its bullish ranges as the days are passing by.

Current Status From IOTA Chart:

  • Price in USD: 0.4424 USD (UTC time 03:08)
  • Price in BTC: 0.000041 BTC
  • Circulating Supply: 2,779,530,283 MIOTA
  • Market Cap: 1,271,034,359 USD

IOTA Price Prediction:

IOTA Price Chart - 24 June
IOTA Price Chart

From the above 5-day chart, it is understandable that IOTA is repeating its previous moves. The market condition being so unfavorable can’t help but sweep away IOTA’s potential towards bearish trend from the bullish trend. From 18th June till noon of 22nd June, IOTA was completely traded at bearish zone. From the noon of 22nd June till yesterday, it traded at bullish ranges. So, it is evident that the intensity of IOTA to sustain in the bearish range is getting higher than to retain its bullish ranges. On 20th June, its value dropped to as low as 0.4090 USD, and on 22nd June, its value went up to 0.4773 USD. Based on previous day data, its resistance level is 0.4538. On 22nd June, IOTA although went up above this value but it is again declining towards the bearish ranges. Within a span of 5-days only, the value of IOTA has been increased by 8.16%, and on the basis of the above facts, we think that in the upcoming days, IOTA can trade around $0.43.

Conclusion:

In the concluding note, it is to be said that one will regret sure if he is thinking of any sort of investment on IOTA currently, even after knowing the market condition. One should not think of investing in it before the volatility gets reduced, and IOTA is able to retain its bullish trend to a significant extent.

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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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