Most major altcoins are trading in the red, with Bitcoin [BTC] to levels below $7,000. The volatility seen in the market is largely due to the CME Bitcoin Futures contracts expiry scheduled for August 31. IOTA [MIOTA] has also taken a hit, however the decline is likely a correction in prices since the coin had gained quite a lot in the last few days. In the last seven days alone, the crypto had surged over 35 percent.
The coin breached a key support level at $0.73 and has since seen a dip in its prices. The virtual currency is far from its current resistance level, which can be found at $0.75, and will likely continue to edge lower.
At the time of writing, the 100 EMA line indicated that the crypto briefly exhibited an uptrend. However, further selling could push the coin into a downtrend. The MACD showed that MIOTA was trading in the bearish zone. The digital asset was exhibiting a significant trading range of $0.66-$0.73. As of 1800 GMT, the coin fell 7.2 percent against the U.S. dollar to trade at $0.69.
MIOTA had declined 5.2 percent against BTC at the time of writing. At present, one MIOTA is equivalent to around 0.0001 BTC.
IOTA [MIOTA] Price Prediction 2018, 2020
- Tradingbeasts.com expects the coin to hit $1.87 at the beginning of December this year, before ending the year at $1.92. The virtual currency is expected to trade in the range of $7.06-$10.38 in 2020.
- According to Smartereum, MIOTA’s price is expected to hit $11 in one year while its five-year forecast is at $38. Profitconfidential.com has predicted that the crypto will hit $4.98 this year.
IOTA [MIOTA] Latest Updates
IOTA Foundation recently named Janine Härtel as a project manager and will be a part of the mobility and automotive adoption team. Härtel earlier worked with Volkswagen Group, where she developed the idea of the “software over the air” PoC using the IOTA Tangle, along with her colleagues at Volkswagen.
Before IOTA unveils its new project Digital CarPass, know all about it
Fujitsu demonstrates how IOTA enables product quality documentation
Image via Shutterstock
Join our Telegram group