- MIOTA Price is observing a downtrend on the daily chart. It can soon test the lower support $0.5
- IOTA technical indicators hint at a bullish momentum in price for the long term. In contrast, it has seen a loss of more than 50% of its value in the past few weeks.
IOTA price is currently trailing near the value of $1.07 with an intraday gain of 1.2%. It has an ROI of 175732.03% which has always attracted investors for a long time . Resistance for IOTA coin price while going upwards can be seen near $2. Meanwhile, the bounceback in price can be observed from $0.5.
MIOTA capitalization is currently near $2,994,357,195 and is currently ranked 36th in the CMC. The volume of the coin has also seen a jump in the past few weeks.
Will IOTA Coin Ever Cross The Barrier Of $10?
IOTA has a total circulating supply of 2.78 Billion and is currently trading near $1. If the IOTA price ever reaches $10 then its market capitalization will even be less then the DOGE and Polkadot. If we consider the applications of it then reaching $10 will be a good price for the token. It wouldn’t be a surprise if it reaches there within a year or two. The long term price projection can even be $50. One can position their funds in IOTA as per the price action.
Technical Indicators Hints At A Downtrend In IOTA Token Price
The weekly technical chart of IOTA shows a bearish momentum for upcoming weeks. On the daily chart, the price has formed a bearish engulfing candle. This may take the price to the lower support levels. It is currently trading below the 50 and 100 Daily Moving Average. The 100 DMA is near the value of $1.3 making it a temporary resistance. IOTA/BTC pair is also in a slump but can soon see a bullish recovery.
The volume indicator of the IOTA is at 7.7M, hinting at a sell signal with lower strength. If the price crosses the threshold of $0.8 then a strong sell volume can be seen.
IOTA coin price has seen a more than 400% gain from the start of the year. It is currently in a downtrend but can soon see a recovery. One should do their due diligence before investing.
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