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Will IOTA Price Fall? Technical Analysis and Forecast

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by A1

6 hours ago


The cryptocurrency market is known for its high volatility and unpredictable price swings, and IOTA is no exception. Recent price drops have sparked concerns among investors and traders, and in this article, we delve into the technical aspects of its current state and discuss possible future scenarios.

Recent IOTA Price Movement

The current price of IOTA is $0.303604, with a 24-hour trading volume of $163.72 million, a market capitalization of $1.06 billion, and a market dominance of 0.03%. Over the past 24 hours, the price of MIOTA has dropped by 9.74%. IOTA reached its all-time high of $5.54 on December 6, 2017. The all-time low was recorded on March 13, 2020, at $0.077481. The current sentiment for IOTA's price prediction is neutral, while the Fear & Greed Index stands at 61, indicating a state of greed. IOTA has a circulating supply of 3.48 billion MIOTA out of a maximum supply of 4.60 billion MIOTA. The yearly supply inflation rate is 12.36%, meaning that 382.75 million MIOTA were created in the past year.

IOTA Price Prediction: Hourly Chart Analysis

The hourly chart indicates a sustained bearish trend for IOTA. Key technical indicators suggest consolidation, though downward momentum still dominates. Bollinger Bands show the price consistently below the lower band, signifying increased selling pressure and oversold conditions. The RSI is at a significantly oversold level of 25.44, reflecting intense bearish sentiment. Meanwhile, the formation of red Heikin-Ashi candles confirms a consistent downward trajectory.

IOTA Price Prediction: Daily Chart Analysis

The daily chart shows IOTA near the lower Bollinger Band, indicating sustained bearish momentum. The RSI value of 47.25 suggests neutral to mildly bearish sentiment. The daily chart displays a gradual decline following a peak near $0.60. The inability to form higher highs or maintain key support levels suggests a continuation of the bearish trend unless significant buying pressure emerges.

The likelihood of IOTA crashing to zero within the next 30 days appears low but not impossible. Extreme negative catalysts such as major exchange delistings or catastrophic network failures would be required for such a collapse. More realistically, IOTA may continue its gradual decline, testing key support levels. Traders should closely monitor market sentiment and external factors, looking for oversold signals as potential entry points for a short-term rebound.

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