Bears Are in No Mood to Release the Hold on IOTA

  • IOTA price is still under the control of bears as seen from the YTD price chart

IOTA (MIOTA) price has been mostly below the baseline for the major extent in this year until now; except showing an upward momentum only during the months of May and June. With the bears coming back in full swing in July, the price again went on a downhill as seen from the YTD price chart, where the price movement for IOTA has been between $0.25–$0.51.

IOTA Price Analysis:

IOTA had not much to cheer since the price was mostly inclined towards the lower range for the most part of the year as seen from the YTD price chart. From the trading price of $0.3710 on Jan 5, the price went down by 37.31%, below the baseline at $0.2550 on Apr 27. There was some hope for IOTA as it shot up to $0.5065 on May 29, by 98.05%. With the entry of bears, the price could not hold and price again went below the baseline at $0.2700 on July 16, the fall being to the extent of 46.26%. The price had managed to recover to the tune of $0.3119 on Sep 20. The current trading price at the time of writing was $0.2811 indicating the strong bear pressure in the crypto market, fall being to the extent of 9.98%.

IOTA Price Chart

IOTA price has gone through a roller coaster ride for the most part of the year with the price showing varying movements due to the crypto market volatile trends at intermittent intervals. Even now, the price is still in the lower range and the bears are in full control. The trend is expected to be bearish in the short run. Investors should not expect much from this current crypto market volatility but should hold on to their investments. Short-term traders should make their investment decisions very cautiously as the volatility may disrupt their returns.

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