IOTA’s stepping into the New Year has given some bullish pushes to its value. Over the last seven days, it has been surged by a whopping 10.67%. However, from the last 3 days, it marked a moderate downtrend. IOTA may be able to sustain this momentum for a while now.
IOTA Price Analysis
IOTA coin was traded at $0.158268 on January 03, and over the next three days, the bullish movement gave it a push to add $0.02647 and placed it at $0.184743. The next swing happened between January 06 & 07. In this period, IOTA price soared by 10.95% and reached a weekly high of $0.197155. From there, the currency started witnessing a price correction. By 00:55 UTC today, the coin has already lost 10.77%, and the value has been pulled down to $0.175923.
There has been a decent hike on the market cap front of IOTA currency in the last week. The market cap on January 03 stood at 463.789 million USD, and today it has been up to 492.337 million USD.
IOTA’s current price at $0.175157 is yet to catch up with its 50 days MA ($0.176257) and 20 days MA ($0.176182). Though the gap is not huge, it is enough to make the IOTA coin go through intraday volatility. However, an overall bullish trend is expected in the short-term.