Price Analysis

How Long will the Bearish Phase Continue For IOTA?

  • IOTA price is on a continual downslide as seen from the one-day price chart

IOTA (MIOTA) coin began the year on a winning note. The coin was able to maintain a steady upward trend till the end of May. With the entry of bears, the crypto market started to get volatile enough, which affected the price of IOTA as well. The past one-day IOTA price chart indicates bear pressure with the same continually inclined towards the lower range and ranges from $0.27 – $0.29.

IOTA Price Analysis:

IOTA Price

IOTA price did not hold much for Oct 08 as the bear pressure was too much to handle, as can be seen from the one-day price chart. From a high of $0.2877 at 2:03 UTC, the price slipped to $0.2702 at 20:58, the fall being to the extent of 6.05%. With the bears mounting continual pressure on its price, the fall was inevitable. The price of IOTA did try and recover at $0.2745 at 22:42 UTC, the recovery being to the tune of 1.58%. Today the price is at $0.2711, the fall being to the extent of 1.24%.

IOTA Price Prediction:

IOTA had managed to sustain its steady upward trend in the crypto market until the volatility in the market changed fortunes for the coin. After that, it was on a continual downhill for its price with the bears putting pressure and pushing the price in the downward range. Analysts expect the volatility to continue for some more time and expect a better turn of events in terms of IOTA trading price by the year-end.

Long-term investors should have faith in the future growth prospects of IOTA and continue to hold existing investments for the long-term. Day traders should exercise caution as the crypto market is quite volatile.

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