- MIOTA Price is currently seeing a consolidated momentum after a long downtrend. It may see the start of bullish momentum soon.
- Technical indicators for IOTA coin price suggest a consolidated momentum. In contrast, it has observed a loss of more than 50% in the recent downside rally.
IOTA coin price is currently trading near the value of $0.81 with an intraday loss of 5%. The token has an ROI of more than 175730% which has always attracted investors for a long perios . Resistance for MIOTA price while going upwards can be observed near $1.5. Incontrast, the bounceback in IOTA can be seen near $0.6. IOTA/BTC pair is also observing a downtrend from the past few days.
MIOTA market capitalization is currently near the value of $2,270,057,195 and is currently ranked 44th in the CMC. The volume of the IOTA price in the exchanges has not seen a significant increase from the past few days. The volume to market capitalization ratio of the asset hints towards a bullish momentum in price.
Will IOTA Coin Price Reach Beyond $10?
MIOTA coin has a total circulating supply of approximately 2.78 Billion and is currently near the value of $0.8. If the IOTA coin price ever goes above $10 then its market capitalization will be less than most of the crypto coins present in the market . If we consider the applications of the coin then it would be easy for the price to reach above $10. The applications of the MIOTA has in various fields and it can grow more. The long term price projection can even go beyond $50. One can position their funds in MIOTA as per the price action.
Technical Indicators Suggests A Consolidated Momentum In IOTA Coin Price
IOTA weekly technical chart highlights bearish momentum for upcoming weeks. On the daily chart, the price is observing a consolidated momentum. It suggests the IOTA coin price might see an uptrend . The price is currently trading below the 50 and 100 Daily Moving Average. The 100 DMA is near the value of $1.17 making it a temporary hostile region for price. IOTA/BTC pair is also in a downtrend but can soon see a major recovery.
Conclusion
IOTA coin price has been up by more than 400% from the start of the year. It is currently in a consolidation but can soon see a breakout. One can position their fund in IOTA after a major breakout..
TECHNICAL LEVELS
Major Support:$0.6
Major Resistance:$1.5
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