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Price Analysis

Will IOTA take a Recovering Turn from the Bearish Control?

  • IOTA price continues to be in the lower range as seen from the one-month price chart

IOTA (MIOTA) was one of the few coins in the blockchain network which began the year on a good note. The coin was able to continue with this trend till the bearish volatility started yielding pressure on its price. The past one-month price chart for IOTA shows a huge fluctuation in the range of $0.23 – $0.31.

IOTA Price Analysis:

In this bearish market, IOTA has not been able to maintain its stable momentum, and the price is mostly inclined towards the lower range, as seen from the 30-day price chart. From the lowest trading price of $0.2323 on Sep 12, the price rallied to the extent of a good 32.89% on Sep 20 at $0.3083. This was, however, short-lived, as the bears continued their onslaught and the price of IOTA reached $0.2449 on Sep 25, the downward movement was to the tune of 20.42%. On Oct 08, the price showed signs of recovery, and the price moved to $0.2835, marking an upward trend of 15.77%. The current price of IOTA is at $0.2776, which shows a downward movement to the extent of 2.08%.

IOTA Price
IOTA Chart By TradingView

IOTA price could not hold on to its upward momentum when the bears started gaining a strong foothold in the crypto market. The price plunged and went below the baseline. IOTA investors were disappointed a lot due to the continual price volatility in the market. This trend is expected to last for the short-term. Only by the year-end, there seems to be some respite from the bears.

Long-term investors cannot do much in the current crypto market volatility and should do a patient wait for the volatility to subside. Intraday traders should be aware of the current bearish market sentiment.

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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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