Price Analysis

IOTA Price Uptrend Remains Intact; Price Rally Indications Strengthens

  • The price is moving with an uptrend in IOTA.
  • The traders could expect an early arrival of a price rally.

IOTA is currently dealing with the bulls. The currency has been in a continuous effort to rise despite being under market pressure. The crypto market is currently battling with volatility. There is strong anticipation that the market would soon come out of the same. The period after that is anticipated to be flourishing.

IOTA is also expected to rise in the coming days. The current scenario is exhibiting a moderate uptrend which is speculated to broaden in the future. Let’s have a look at the price chart to understand the movement of the currency more precisely.

IOTA to USD Price Chart:

IOTA Price
IOTA Chart By TradingView

IOTA started the last month with a slight downtrend. The price fell by 3.32% from $0.24 to $0.23. Further, the digits escalated to $0.24 by 5.58%. The currency experienced a drop of 7.77% which brought it down to $0.23. The uptrend took it back to $0.25. The currency dealt at the same level for some time but later climbed to $0.31 from $0.24 by 29.15%. In the above-given chart, we can observe a double top shape forming in IOTA. The shape usually indicates an upcoming uptrend, but the coin fell tremendously after the same. The fall was by 23.96% from $0.31 to $0.24. The upsurge took place after the fall. The price jumped to $0.27 by 14.16%. The month recorded a progression of 0.37%. Presently, IOTA is registering moderate momentum. The price is hovering around $0.27. The coin is likely to cross the resistance level at $0.277037.

IOTA Price Prediction:

The above-mentioned chart is reflecting an improvement in the coin. The future of IOTA is bright. The traders can dig-in with a high prospect of profit. As per the current price level, the resistance level is stated as:

R1: $0.277037

R2: $0.28237

R3: $0.286299

The support for IOTA formed around.

S1: $0.267775

S2: $0.263846

S3: $0.258513

The currency is anticipated to give the best result in long term. The short investment might be chancy, hence we wouldn’t vote for the same.

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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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