Altcoin

IOTA Price Analysis: Bearish Trend Seems to Completely Encircle IOTA (MIOTA)

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There are no positive vibes expected for IOTA yet. Already, there are so many altcoins which are continuously losing their worth day after day to the erratic and turbulent BTC. The recent growth of BTC and other cryptocurrencies has not really affected the growth of altcoins like IOTA. Despite bringing new updates, IOTA is still not able to hold up its value and is continuously plunging down at a steady pace. This is really ruffling, so far its sustenance in this turmoil market is concerned.

Current statistics from IOTA Chart:

  • Price in USD: 0.4325 USD
  • Price in BTC: 0.00004729 BTC (05:37 UTC)
  • Circulating supply: 2,779,530,283 MIOTA
  • Market rank: 16
  • Market cap: 1,203,149,464 USD

IOTA to USD Price Predictions:

IOTA Price Chart - 19 June
IOTA Price Chart

From the 5-day chart of IOTA, it is evident enough to understand that its bearish run is very much strong and persistent compared to its bullish peaks. For instance, on 13th June, it had a peak of 0.4503 USD but later, it started declining. Its bearish trend followed until the start of 16th June. So, approximately for 2 continuous days within the said time frame, IOTA got traded in the bearish ranges, with no probability of rising as it has no effective support level. If IOTA continues to have such great dips, then, having an effecting support level is indeed a questionable part. Even, if it’s rising up, it is hardly able to retain its value. From the afternoon of 16th June, it started rising and continued to trade in bullish zone till the midday of 17th June. It again faced a decline with usual efforts to rise. Even yesterday, it was traded as low as 0.4283 USD. Within approximately 5 days, the value of IOTA is reduced by 3.95%. Considering these facts, we think that in the upcoming days, IOTA can trade around 0.4327 USD to 0.440 USD.

Conclusion:

The current condition of IOTA is shattering the hopes of investors who are willing to add IOTA in their portfolio. So, one can well imagine how important it is going to be for IOTA to gain the momentum in the upcoming days to maintain the position it holds. Degradation of its values cannot be hindered at any cost as the market is unpredictable and so, any sort of investment on it can turn into a futile idea.


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