IOTA Price Analysis: IOTA’s Instability Restrains It From Picking Up the Momentum
The crypto market that is subject to great volatility is not exhibiting any ray of bullish persistence for IOTA. By now, it should have got clear that all the coins that are rising above the bearish zone are not going to help any altcoin like IOTA in the long run as the consequences are highly evident from IOTA’s fluctuations. Despite IOTA showing a bullish trend time and again is unable to survive due to the ineffective support level and erratic nature of BTC, it will remain in the verge to substantially lose a significant amount of its value.
Current Statistics of IOTA:
- Price in BTC: 0.00004703 BTC (02:54 UTC)
- Price in USD: 0.4330 USD
- Circulating supply: 2,779,530,283 MIOTA
- Market cap: 1,213,538,238 USD
- Market rank: 16
IOTA Price Analysis And Future Price Predictions:
The above 5-day chart shows the price ranges that are highly fluctuating with alternative bullish and bearish runs. The bearish run is more intense and powerful than its bullish run, and this is the reason why it is still devoid of an adequate support level that can push its value up. From 12th June siesta hour to the onset of 16th June, IOTA mostly got traded in the bearish ranges with slightest peep ups in the bullish field on 13th June. This price hike was so insignificant that it is nearly inconsiderable. On 14th June, IOTA got traded at a value as low as 0.4156 USD. It started picking up its momentum from the 16th afternoon and managed to get traded with the same in spite of this fluctuation until 17th June midday. On 16th June, it attained an excellent peek at 0.4639 USD, but afterward, it again dropped down substantially in the bearish zone. This bearish dip was even not persistent, and since yesterday, IOTA is trying to raise its momentum in the bull range. As it is evident from the chart itself that it had long persistent bearish run in comparison to bullish run, it is devoid of support level, and thus this upcoming bull trend will not withstand this intense, volatile condition of the coin. Within a span of 5-days, the value of IOTA has been reduced by 6.66%. And therefore as per IOTA Predictions, IOTA can trade around 0.440 USD to 0.460 USD in the upcoming weeks.
In the concluding note, it can be said, that it’s better not to generate positive hopes until IOTA starts getting traded in the bullish price zone for it will not be persistent enough, and this has been elicited in the analysis above. Therefore, long- term or short-term investment on IOTA as of now can be a very futile idea, as it can incur significant losses to the investor’s portfolio at present.