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Price Analysis

IOTA Price Analysis: IOTA Trying To Pick Up Its Momentum In The Bullish Zone

The crypto market for altcoins is still very volatile, and any positive vibes are still not assured by any of the enthusiastic crypto analysts. The values of altcoins like IOTA are in a highly fluctuating state, and thus, these are sometimes going up, but in the next moment, they are getting declined to a major extent. IOTA is not exceptional, and it is highly affected by this market volatility and the erratic and turbulent nature of BTC. Although currently, IOTA seems to be picking up its momentum, it may suddenly depress all those investors who are eagerly waiting to splurge on this potential crypto.

IOTA Price Current status:

  • Price in BTC: 0.00005347 BTC (07:21 UTC)
  • Price in USD: 0.4316 USD
  • Market cap: 1,204,313,581 USD
  • Market rank: 15
  • Circulating supply: 2,779,530,283 MIOTA

IOTA Price analysis and future price predictions:

IOTA Price Chart - 13 June

The 5-day chart of IOTA indicates the high fluctuating state of this crypto. On 8th June, IOTA was traded at a bearish value of 0.4185 USD. From then till 11th June, it mostly remained in the bearish ranges with the slightest peep up in the bullish zone on 10th June. These peep ups are completely devoid of any effective resistance levels due to enough volatility. Yesterday, it started picking up its momentum in the bullish ranges and reached a value of 0.4413 USD. But it has to be kept in mind that IOTA did not have any effective support levels earlier which may create the same dribbling effect even this time if it falls. Rather, it has repeatedly deterred to bearish levels only. So, sticking to this momentum is a tough and challenging issue for IOTA. Although, the arrow indicates a hike in the price of IOTA within next two days, earlier also, this same thing was noticed when it traded at higher values on 7th June, and it fell from 8th June onwards. So, IOTA is unpredictable in the current market condition like this. Within 5 days only, the value of IOTA has substantially increased by 3.13%. Taking into consideration all the above facts, we think that in the upcoming days, IOTA can be around 0.4230 USD to 0.4250 USD if it falls from the current price mark.

Conclusion:

In the concluding note, it is not the time to get cheered up by seeing that IOTA has started surging up as there are high chances of falling to bearish levels again, supported by the momentum of history of IOTA prices. IOTA lacks support levels from quite a long time back, and thus, persisting in the bullish zone is pretty challenging for it.

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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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