Price Analysis

IOTA Price Analysis: IOTA Price Has Dropped By 29% Since Last Month

IOTA was priced at $0.3206 on 14-July-19 at about 22:00 UTC; however, the prices of the coin started to decline. There were two major price falls, and IOTA fell as low as $0.2557 on 16-July-19. From 16-July-19, the coin did show signs of an upward rise and reached $0.3339 on 20th July around 17:30 UTC. However, it could not maintain its efficiency at this level and started to decline again. Post-mid-week of July, the decline in the IOTA price has been a slow and gradual one without any drastic fall. IOTA fell as low as $0.2233 yesterday at about 06:30 UTC.

Let us look at how IOTA has performed:

IOTA Price Prediction
IOTA Price Chart by TradingView

Current Statistics of the IOTA:

  • Market Cap of the coin was 646,697,298 USD.
  • IOTA price is trading at $0.2346.
  • 24-hour volume is at $6,142,366
  • 2,779,530,283 IOTA coins are at present being traded digitally.
  • The coin offers an ROI of -63.38%.

IOTA Price Prediction:

If we compare the price of IOTA since the time it reached a high in July, which was on 20-July-19 wherein the price was $0.3339 and the present value, IOTA is reflecting a bearish run by almost 30%.

We believe that IOTA price may continue to fall marginally, and the coin may be finding support at $0.22. IOTA may be able to change the present scenario only after about a couple of weeks once it is able to bounce back well and maintain its performance standards.

Conclusion:

The Chaikin Money Flow indicator also reflects that the currently, IOTA is trading with a bearish nature. As per the current trend, investors should wait for some time before investing their money in the coin. IOTA has the required potential to make a turn around after about a few weeks. Hence it is advisable to trade in the coin from a long-term perspective.

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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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