Bears in Authority to Rule IOTA Price for the Short-term

  • IOTA price has been through a lot of variations as seen from the YTD price chart

IOTA price has had many ups and downs in its price range since the beginning of the year. It began the year on a high note, but later its price was below the baseline. The month of May turned out to be better but at the onset of bearish trend, the price went on a downward trend. The YTD price chart shows the price of IOTA is moving in the range between $0.24–$0.51.

IOTA to USD Price Analysis:

The price of IOTA has seen a lot of variations as seen from the YTD price chart. From a low of $0.2385 on Feb 05, the price reached a high of $0.3582 on Apr 08 to the extent of 51.04%. The price still being below the baseline, it fell to $0.2615 on May 08, fall being to the extent of 27.19%.  On May 30, the price had a great rally at a high of 93.62% at $0.5063. The bears started their onslaught in the crypto market and the price of IOTA once again went below the baseline price at $0.2480 on Aug 14, fall being to the tune of 51.42%. By Sep 20, the price did slowly recover by 25.64% trading at $0.3115. The current day’s trading price is at $0.2718, fall being to the tune of 12.74%, indicating the presence of bear pressure in the crypto market.

IOTA Price Chart 

IOTA price has been oscillating between bearish and bullish phases since the start of the year. For most part of the first half of the year, the price has been below the baseline though the month of May did give a head start to the coin. With the bearish trend still visible in the crypto market, analysts expect the price of IOTA to be on the lower side for the short-term and then pick up by the year end when the crypto market is expected to show an upward momentum. Investors should hold on to their current investments and wait for the crypto market to make a turnaround.  Short-term investors and day traders can trade with a cautious approach.

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