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IOTA (MIOTA) Price Prediction - Overview and Long-Term Forecast

  • Thomas Hughes
    πŸ“ˆ Price Predictions

    πŸ“ŠπŸ’£IOTA has been trading at $0.29 with a total circulating supply valued at $810,668,236πŸ’°


IOTA (MIOTA) Price Prediction - Overview and Long-Term Forecast
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

IOTA is an open source distributed ledger designed to execute transactions between machines connected to the Internet-of-Things. According to its founders: β€œWe envision IOTA to be a public, permission less backbone for the Internet of Things that enable true interoperability between all devices”. Sounds a little scary to me though, could be the start of β€œSkynet” and we all know how that turned out.

It was launched in July 2017 and uses a Decentralized Acyclic Graph (DAG) instead of a blockchain. Its native digital asset is called MIOTA which enables micro-transactions between connected devices. The use of the DAG removes the dependency on miners for transaction validation: each new transaction must approve two previous transactions, thus eliminating the need for consensus in IOTA’s network.

IOTA (MIOTA) Technical Analysis – The Big Picture

MIOTA has been trading at $0.29 with a total circulating supply valued at $810,668,236. This puts it in the number 14 spot by market cap rankings.


Similar to most other cryptocurrencies, IOTA reached its all-time high in late December 2017 and has been sliding lower ever since. The last few weeks have been flat, with low volume and almost no volatility which means we may see a strong move to either side very soon. However, this next strong move may be short-lived, and the price could reverse rather quickly so I urge caution.IOTA/USD chart by tradingview

IOTA/USD chart by TradingView

In the longer term, we can expect to see some type of bullish-movement develop due to the fact the downtrend is exhausted, there is established support in the $0.24 area and bearish advances have stalled.

From a Daily chart perspective, the pair is trapped inside a horizontal channel created by 0.2415 support and 0.4000 resistance. The bears have attempted to break said channel but failed so we can consider it to be firm support for the time being.IOTA/USD chart by tradingview

IOTA/USD chart by TradingView

This presents us with two scenarios that could develop over the next 3 to 6 months. A break of 0.4000 could generate a climb to the previous significant high of 0.8200 while a break of 0.2415 will likely trigger an extended drop to the all-time low. A bullish break of the 100 days Exponential Moving Average (red line on daily chart above) would increase the chances of a move above 0.4000, thus opening the door for a move into 0.80 area over the coming months.

Daily Chart Support: $0.2415 ($0.2400)

Weekly Chart Support: $0.2400 followed by the all-time low at $0.14

Daily Chart Resistance: 100 days Exponential Moving Average and $0.4000

Weekly Chart Resistance: $0.4000 and $0.8200

Most likely scenario: a break of the horizontal channel will likely generate an extended move towards either $0.8000 or $0.1400; beware that the initial break may be a false one

Alternate scenario: price action remains flat for the coming months, with no interest for the coin from either bulls or bears

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TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) β€” Should Buyers Fix Their Profit or Not Yet?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    It looks that buyers are fixing their positions. In this regard, is that a chance to buy or we need to follow the general market mood?


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) β€” Should Buyers Fix Their Profit or Not Yet?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The situation on the cryptocurrency market has not changed a lot comparing to Thursday. Prices of most coins out of the top 10 have been reduced, however, there are 2 exceptions from the rule. Binance Coin and Litecoin are those ones that keep going up when other coins are ’’relaxing’’.   

Especially it is remarkable for BNB, whose rate has exceeded $20.


BTC’s domination rate is stagnating and now constitutes 52%.

BTC/USD

Friday, Apr. 19 has started for the main cryptocurrency with a red bullish candle, pushed down BTC from $5,274 to the $5,200 mark. Currently, the quotes are trading in the $5,200 - $5,250 corridor.

BTC/USD chart by tradingview

Yesterday, the main cryptocurrency managed to overcome the resistance of the Fibonacci level and tested the mark of $5,276 (61.8%).

If today we manage to return to this level, then the path to the $5,300 mark is possible. The target level of bulls will be reached, after which a pullback will start to fix positions.

On the whole, the BTC maintains an upward priority, but in the coming days, a flat range is also possible.

The price of BTC is trading at $5,256 at the time of writing.

ETH/USD

A general picture for Ethereum is even better than for BTC, as its price has not reduced so much.  Yesterday, the asset touched the $176 mark but was not able to consolidate it and rolled back to $170.

ETH/USD chart by tradingview

On the 1-hour chart, ETH has all efforts to come back to the $180 mark, which was achieved on April.10. That is confirmed by the RSI indicator and trade volumes.

πŸ‘‰MUST READ Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

However, taking into account fundamental factors, some Ethereum based projects have started to migrate to Binance Chain network. If such a trend continues, it could negatively affect the ETH’s rate.

The price of ETH is trading at $171.89 at the time of writing.

XRP/USD

Ripple is the biggest loser from the top 3 coins, as its rate has dropped by more than 2% over the last 24 hours.

XRP/USD chart by tradingview

The price of XRP is trading at $0.33 and continues to move within the growth and the downward channel. The quotes XRP/USD are moving inside the Ichimoku cloud, which indicates the presence of a lateral trend for Ripple.

πŸ‘‰MUST READ XRP Price Prediction: huge profit warning detected. Ripple bulls in anticipation of rapid growth
XRP Price Prediction: huge profit warning detected. Ripple bulls in anticipation of rapid growth

An impetus for growth renewal can be the recent news concerning the Huobi exchange which added 3 more trading pairs for XRP.

The price of XRP is trading at $0.3322 at the time of writing

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