Price Analysis

IOTA Price Analysis: IOTA (MIOTA) Records 25% Slump In The Last 5 Days

  • IOTA trades below the value the coin held at the onset of 2019
  • IOTA’s downward movement raises questions on its sustainability

Since the onset of 2019, IOTA has not been able to show any considerable price movement except in May when the coin surged as high as $0.55. IOTA started the year trading at $0.35 and now has fallen from that value also and trading below $0.30, which has raised serious concerns on the sustainability factor of the coin. The current market statistics are also not helpful in clearing the negative air surrounding this token.

IOTA Price Statistics:

As on July 15, 2019, at 05:38:38 UTC, the price of IOTA token is $0.29, and it has shown a downtrend of over 25% in the last 5 days falling from $0.39 to its current value. The coin had moments of highs and lows in this duration and mostly traded between $0.33 and $0.35 until yesterday late night when it started falling steeply.

IOTA Price Prediction
IOTA Price Chart
  • The current trading price of IOTA is noted to be $0.29 and 0.00002925 BTC
  • The market cap of the coin is $824,205,954
  • The 24 h volume of the coin is $15,652,189
  • The ROI of the coin is -53.78%
  • The circulating supply of the coin is 2,779,530,283 MIOTA

Yesterday, IOTA closed trading at $0.30 and currently has fallen further since then. The lowest recorded value yesterday was $0.30, but now it has fallen further to $0.29. In the last 7 days, IOTA has fallen as low as $0.28, and the resistance level of the coin as per the current trading price will be at $0.32 post, which it may rise again.

IOTA Price Prediction:

It seems IOTA may take another 2-3 month to rise as high as $0.55 mark, which is also the highest value of the coin in the last 90-days. However, the coin may close the year trading at $1 if it continues with this pace and not show any steady downward movement in the next quarter as well. The coin is still far away from its all-time-high value of $5 and may not move past it this year.

Conclusion:

Investment in smaller chunks may be better for this token as the risks are higher.

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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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