Price Analysis

IOTA Price Analysis: IOTA To Continue To Bearish Run For Quite Some Time Now, May Trade Around $0.30 Only

IOTA was valued at $0.34 on 13-July-19. Post this date, the prices of the coin began to drop, and there were a couple of sharp falls. Due to this, the price of the coin fell as low as $0.25 on 16-July-19. The coin did manage to change the scenario and rose upwards; however, prices began to fall again. From 27-July-19 till about 7-Aug-19 the movement of the coin has been more or less in the same pattern without any drastic rise or fall. At the time of penning down, the price seemed to be more or less stable around $0.25.

Let us look at how the coin has performed over the past month.

The price analysis of IOTA is as below:

IOTA Price Prediction
IOTA Price Chart by TradingView

Current Data of the coin:

  • IOTA is currently ranked at 19th position in the crypto market.
  • Coin’s current market cap is marked as 711,279,092 USD.
  • IOTA is valued at $0.25 at 07:45 UTC.
  • 24-hour volume numbers are $6,092,995
  • The circulating supply of the coin is 2,779,530,283 IOTA.
  • The coin offers an ROI of -59.90%.

IOTA Price Evaluation and Future Forecast:

If we compare the current trading price of the coin with the highest value of last month when it had reached $0.34 on 13-July-19 at 15:30 UTC, it indicates a bearish run by 26%.

As per the current trend, we anticipate that IOTA may continue to trade around $0.25 by the end of the day. After about a few days, the coin may manage to change the bearish scenario and begin to rise upwards. The MACD of the coin also indicates a bearish move in the negative zone as the signal line crosses the MACD line.

Conclusion:

Looking at the movement of the coin today, investors may purchase as well as sell the coins as per their discretion. Trading for a short-term basis in the coin may not be that effective as the coin has enough potential to attain newer price marks.

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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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