Correspondingly, looking at the indicators, we can witness that they have not bottomed yet, therefore there are high chances that the price will halt the current $0.25 support. This is between $0.10 and $0.125, which is why a further price drop of around 50% is possible. If IOTA price splits the $0.25 support, which we anticipate, the price could spot the next support zone. As the Bitcoin price split the support zone between $28,000 and $30,000, the future looks rather pathetic. Yet, if the price maintains the $0.25 support, we predict the price to rebound again to the $0.375 – $0.385 resistance zone. That said, the future of the coin that best represents the Internet of Things technology still seems very positive, at least in the eyes. If the price violates this support, we would anticipate the price to continue dropping very sharply. Much like Bitcoin and other cryptocurrencies, IOTA has struggled to stabilize its price this year and remained far away from its all-time high level of 5.36 in 2017.
Now the price has touched this support again. If we look at the chart of the Iota price, we can notice that the $0.25 level was frequently utilized as support back then. As per IOTA projection price as well as technical analysis, the MIOTA price is predicted to surpass an average price level of 2.84 in 2024, with the predicted. Yet, this will require to be watched more closely once the price scales the $0.225 support. It is also likely for the price to split the $0.225 support and thereafter fall to the $0.15 support. This would be the least we anticipate from the Iota price. If the IOTA price comes to split the $0.22 support, which is very possible, then we predict that the price will drop further. In figure 1 below, we can notice how the current crash is affecting IOTA prices. Negative image in the mainstream media ( Warren Buffet’s speech)Īll the above aspects contributed to the decline of IOTA prices.
Problems occurring recently related to blockchain tech ( UST’s collapse, Gas fee problems…).The bearish trend still running since November 2021.Many aspects came into play for IOTA to crash: IOTA price prediction on Monday, July, 25: minimum price 0.28, maximum 0.32 and at the end of the day price 0.30 dollars a coin. Today, the current price is sitting at $0.25. As per the forecast price and technical analysis, In 2023 the price of IOTA is predicted to reach at a minimum value of 0.52. Even when the market was rising the IOTA prices had dropped from over $1.5 to under $0.5$. IOTA is balanced to become influential in the future years, because of the system’s exponential growth. The platform’s creators pictured it as the go-to network for facilitating transactions between IoT smart devices. The high-quality IOTA price prediction source, Wallet Investor, has issued an IOTA forecast of reaching as high as 2.23 in 2025. Tangle, which works similarly to IOTA’s blockchain, uses nodes to execute network transactions.
Tangle, on the other hand, is an established technology. Most cryptocurrency exchanges utilize one of two blockchains, whereas IOTA does not. IOTA is a distributed ledger technique, to put it thoroughly. Currently IOTA has a max circulating supply of 2.779.530.283 and is ranked on the spot of 68 on the worlds ranking of cryptocurrencies.
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