Price Analysis

IOTA Price Analysis: Wariness Is Sweeping the Trend Line of IOTA (MIOTA)

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There is no new update regarding IOTA’s trendline as the same bearish trend is persisting. Rather, it is becoming much stronger as the days are passing by. The condition has appeared so undeserving and pathetic that crypto enthusiasts can assure willing investors of the fact that the bearish trend will be there in the upcoming days, but the bullish trend is unexpected. So, one can well imagine the current situation of the crypto market and thus, can well understand how harder it is getting for altcoin like IOTA to sustain in this intense, volatile market.

Current Status From IOTA Chart:

  • Price in BTC: 0.00004182 BTC (UTC time 02:12)
  • Price in USD: 0.4342 USD
  • Circulating supply: 2,779,530,283 MIOTA
  • Market Cap: 1,210,815,325 USD

IOTA Price Prediction:

IOTA Price Chart - 22 June
IOTA to USD Price Chart

From the 5-day chart of IOTA, it is evident that there is no significant change in its price trend if it is compared with the past 1 month. It’s been more than a month; this depressing condition is ravishing altcoin like IOTA. IOTA is remaining susceptible to lose its value to BTC every then and now. With no effective support level, its prices are falling down rigorously, which is indicating its high liquidity condition. On 18th June, IOTA was traded at 0.4256 USD, which is a very low value if compared to its high bullish trends. It is hardly persisting its bullish trend, and on 20th June, it again dropped its value to as low as 0.4090 USD. Even now also, there is no positive indication of its price trend. Its first resistance is 0.4344, and if viewed in the above 5-day chart, then, IOTA is trying to reach close to this value. Within a span of 5-days only, the value of IOTA has been increased by 2.02%. On the basis of the above fact, we think that in the upcoming days, IOTA can trade around USD 0.43.

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Conclusion:

On the concluding note, it can be said that if anyone wants to invest on IOTA, the consequences can be highly disappointing this year, because volatility is not expected to reduce before the end of this year. Moreover, as the days are passing by, the condition of the crypto market is turning out to be the worst. So, no sort of investment on IOTA must be considered as of now.

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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