IOTA [MIOTA] Technical Analysis and Price Prediction 2018, 2020
The broader cryptocurrency market has been bleeding red on Wednesday, with most major coins steadily declining. Selling pressures prevalent in the market have weighed on IOTA [MIOTA], the 12th most valuable cryptocurrency, with the coin breaching its key support level. The digital asset is currently trading below the $0.50 mark.
The virtual currency is trading with bearish momentum, as evidenced by the MACD. The coin is exhibiting a narrow trading range of $0.4858-$0.4984. The hourly RSI indicator currently stands at around 38, which implies that selling pressures are dragging the token lower. The 100 EMA line, which was trading at $0.49 at press time, shows that MIOTA has been on a constant downtrend for a few days. To resume trading in an uptrend, the coin will need to break out from the current resistance level, noted at $0.50. At the time of writing, the altcoin had inched up 0.7 percent against the U.S. dollar to trade at $0.4892.
The coin has slipped 0.40 percent against Bitcoin [BTC] at the time of writing, with one MIOTA equaling around 0.000076 BTC.
IOTA [MIOTA] Price Prediction 2018, 2020
- According to Wallet Investor, the coin will be valued at around $0.2445 by the end of this year. However, the coin is expected to start the year 2020 at $1.97.
- According to Smartereum the one-year forecast of the token is set at $11 while the five-year price forecast is at a whopping $38.
IOTA [MIOTA] Latest Updates
- Members of the IOTA community have come up with the idea of Initial Service Offerings – ISOs. In this new model, projects building on top of tangle will not need to mint their tokens and sell it to users, as it happens with the ICOs.
- A recent report by the World Trade Organization (WTO) revealed that blockchain technology would have dramatic impact in the financial system of the world. The report glorified IOTA as a leading distributed ledger technology that will transform the world’s financial system. IOTA was mentioned as an example, stating it to be a cryptocurrency designed for machine-to-machine communication.
- IOTA Foundation has appointed Cara Harbour as the head of its communications to frame internal and external communication strategies for the company.
IOTA Foundation ropes in new communication expert
World Trade Organization says Ripple could impact world’s financial system; highlights Bitcoin, Ethereum and IOTA
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Author: Pinaz Kazi