Price Analysis

IOTA Price Analysis: It’s Again a “RED ALERT” For IOTA (MIOTA) As There Are No “Good Vibes” Indications For It Currently

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The 1 Day chart is showing that IOTA is completely submerged under the bearish zone and there is no positivity of upraising its momentum in the bullish trend currently. Rather, it may further deteriorate in the upcoming days, and the chart is indicating the same. The factors contributing the same are turbulent and erratic nature of BTC along with the intense volatility of the crypto market that is highly prevailing as of now.

IOTA Coin Statistics:

IOTA price chart - June 4

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  • Price in BTC: 0.000054 BTC
  • Price in USD: 0.4278 USD
  • Circulating supply: 2,779,530,283 MIOTA
  • Market Rank: 16
  • Market Cap: 1,224,578,067 USD

IOTA Price Prediction

The above 1 Day IOTA price chart shows that yesterday, for the majority extent, IOTA coin held its value upwards due to the dominance of the bullish prices. 0.4911 USD as highlighted to be the highest price mark of the said 24 hours was supported by 0.4740 USD just before the bearish trend began in the highlighted time frame. But the onset of bearish trend impacted its surge, and subsequently, its value started plunging. It had a sharp dip today, and it went as low as 0.4183 USD then. Currently, also, it is aggravating further indicating a persisting bearish trend in the upcoming days as well. The arrow indicates a steady decline in its value just within 24 hours. Within one day only, the value of IOTA has decreased by 9.74%.

Conclusion

It is well evident that the crypto market is very unsupportive as of now with respect to the uprising of the values of altcoins like IOTA is concerned. Therefore, considering a long-term investment in IOTA can be a futile idea.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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