The current crypto crash is not sparing any cryptocurrency. Most tokens lost more than -50% in valuation. IOTA is not distinct, as its prices dropped from a high of $1.6 to a current price of 0.25. This almost more than 80% price devaluation will certainly take a big toll on IOTA investors. Today, prices have 2 case strategies and might go either way. A big determinant of how things will move is the crypto market presumption as a whole. Is IOTA price today a reasonable buy? Is IOTA a good investment at current prices or will IOTA crash further? Let’s explore the IOTA price prediction.
What is the IOTA Crypto project?
IOTA is a distributed ledger technique, to put it thoroughly. Most cryptocurrency exchanges utilize one of two blockchains, whereas IOTA does not. Tangle, on the other hand, is an established technology. Tangle, which works similarly to IOTA’s blockchain, uses nodes to execute network transactions. The platform’s creators pictured it as the go-to network for facilitating transactions between IoT smart devices. IOTA is balanced to become influential in the future years, because of the system’s exponential growth.
Why did the IOTA price crash?
IOTA price crash is not a new thing. Even when the market was rising the IOTA prices had dropped from over $1.5 to under $0.5$. Today, the current price is sitting at $0.25. Many aspects came into play for IOTA to crash:
All the above aspects contributed to the decline of IOTA prices. In figure 1 below, we can notice how the current crash is affecting IOTA prices.
Is IOTA Crash over or Not?
IOTA/USDT Daily chart – GoCharting
If we glance at the current indicators of the Iota price, we can notice that there is still fine room to go down. Because of this, these indicators are notifying us that the price is likely to drop further. If we glance at the current weekly candle, we can also notice that this does not reveal a trend reversal either. The analysis of our assessment, established on the indicators and the recent weekly candle, is that the crash is not over yet. We predict the iota price could fall further and split the $0.22 support. This is of course taking into a reflection that the crypto market as a whole is still down.
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IOTA Price Prediction – How low will IOTA price go?
IOTA/USDT Weekly chart – GoCharting
If the IOTA price comes to split the $0.22 support, which is very possible, then we predict that the price will drop further. This would be the least we anticipate from the Iota price. It is also likely for the price to split the $0.225 support and thereafter fall to the $0.15 support. Yet, this will require to be watched more closely once the price scales the $0.225 support.
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. Now the price has touched this support again. If the price violates this support, we would anticipate the price to continue dropping very sharply. Yet, if the price maintains the $0.25 support, we predict the price to rebound again to the $0.375 – $0.385 resistance zone. As the Bitcoin price split the support zone between $28,000 and $30,000, the future looks rather pathetic.
If IOTA price splits the $0.25 support, which we anticipate, the price could spot the next support zone. This is between $0.10 and $0.125, which is why a further price drop of around 50% is possible. 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. But only time will tell us.