Price Analysis

The Woes of IOTA (MIOTA) Continue in The Ongoing Bearish Crypto Market

IOTA price started the year on a low note and has mostly been below the baseline. The price did manage to have a short upward movement in May, but with the onset of the volatility in the crypto market, the price once again went on a downward swing. Yesterday, the price of IOTA coin recorded movement in the range of $0.24 – $0.48.

IOTA Price Prediction:

IOTA is still trading under bear pressure, as seen from the YTD price trend. The price was at $0.3837 on January 02. The coin continued to show downward movement, and its price went below the baseline and reached $0.2557 on February 06 by 33.75% drop. IOTA price remained below the baseline though it could manage an upward movement and reached $0.3537 on April 08 by 37.47% hike.

The bears being in control of the IOTA coin, the price went down again to $0.2736 on May 07 at 22.85%. The price then picked up and showed an uptrend at $0.4833 on May 31 with gigantic 76.58% surge. This upsurge could however not be sustained, and the currency price once again hit rock bottom and reached $0.2482 on September 06, showing a downward movement of 48.94%. On October 29, the price of IOTA coin recovered slightly at $0.2834, showing a variation of 14.17%. Currently, IOTA price is trading at $0.2585.

IOTA Price Chart
IOTA Chart By TradingView

IOTA is still reeling under bear pressure, and the short-term is expected to be bearish for the coin. As per the current price trend, analysts feel the coin will take time to recover even when the market stabilizes. Investors have no choice but to hold on to their investments and think from a long-term perspective.

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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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