Price Analysis

IOTA Price Analysis: IOTA up by 7%, the next target seems to be $0.44.

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Let us compare the price of the coin since 1-Aug-19, wherein it was as low as $0.28 at 16:50 UTC. Post this, the coin rose upwards and reached $0.29 the next day at 08:30 UTC. Later, the movement of the coin was stable with several changes in the prices, and it reached as low as $0.27 on 4-Aug-19.

Despite the two falls after 4-Aug-19, the coin has still managed to maintain its performance levels, and prices seem to be rising upwards since then. Over the past five days, the drop in the price was marginal, and IOTA is expected to continue with the bullish run in the upcoming weeks.

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Current Data of the coin:

  • The coin is ranked at 19th position in the crypto market.
  • The market cap of the coin at the said trading price is 813,284,551 USD.
  • IOTA is valued at $0.29 at 07:58 UTC.
  • 24-hour volume figures are $10,693,295.
  • 2,779,530,283 IOTA coins in circulation.
  • The coin offers an ROI of -54.14%.

IOTA Price Comparison and Future prediction:

IOTA Price Prediction
IOTA Price Chart by TradingView

If we compare the current trading price of the coin with the lowest point of the said time frame which was $0.27 on 4-Aug-19 at 06:40 UTC the coin reflects a bullish trend by 7%.

We anticipate that IOTA will continue to rise upwards and may reach a more significant price mark by the end of the day tomorrow. It may continue to trade somewhere around $0.32 and $0.35 in the ongoing month. By the end of this year, the coin may reach as high as $0.50 with a growth of more than 70%.

The Chaikin Money Flow indicator also highlights that the coin is slowly inching towards the bullish run and is rising upwards.

Conclusion:

As per the present trend of the coin, it is advisable to go short with the investment in IOTA. Investors and traders may also trade on a short-term basis as the prices have not drastically changed over the past five days for the coin. The coin may pick up its pace further in the coming times and can even trade beyond $0.67 after a year and will offer better returns then.

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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