Price Analysis

Will Bears Continue to Gain Control Over IOTA (MIOTA)?

IOTA price has not been able to do well during this year as its price has performed very badly, being below the baseline for most of the time. The currency has been fluctuating in the narrow range of $0.26 – $0.28 from the beginning of the month.

IOTA Price Prediction

IOTA has not been able to recover from its downward price movement, and the price has been continuously below the baseline, as seen from the 5-day price trend. On November 01, the price was at $0.2695. Still being below the baseline, the price moved slightly up at $0.2765 on the next day, and the upward movement was to the tune of 2.53%. Then, IOTA price fell to the extent of 2.93% on November 03 at $0.2686.

There was a slight recovery on November 05, when the price reached $0.2755 by 2.62% hike. On the same day, however, the IOTA price again went down to $0.2699 by 2.05% drop. Today, the coin is trading at $0.2813, showing an upward movement at 4.26%. This shows that IOTA is trying to release its grip from the bears.

IOTA Price Chart
IOTA Chart By TradingView

The downward trend for the IOTA price continues as the bears continue to exert pressure on its price. With the price continually below the baseline, nothing much can be expected from the coin. However, as per the current trend, analysts expect the fortune to change for the coin by the year-end. Traders should continue to hold on to their investments as IOTA is expected to give considerable returns in the long-term. Day traders may not gain much in the current downward trend experienced by the coin.

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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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