Even as the collective crypto market is slowly recovering from a trading session that saw most coins being plagued by selling pressures, IOTA [MIOTA] has performed quite well. A sharp rise seen at around 1250 GMT has set the digital asset apart, making it the biggest percentage gainer among the top 20 coins by market cap. The immediate trigger for the spike remains unclear. In the last seven days, the coin had gained 2.6 percent in value and will likely rise further before the day ends.
Though the crypto was exhibiting relatively range bound movement, a sudden spike in its price has pushed the virtual currency back in the green. The altcoin found support at $0.479 and is attempting to post solid gains. The 100 EMA line indicates that the digital asset was in a downtrend for most of the day but is slowly showing signs of recovery. The MACD shows that the coin is trading in the bearish zone, but more buying could push the crypto into bullish territory. The hourly RSI indicator currently stands at 62.93, which implies increased buying. If this momentum continues, the crypto could reach overbought levels. The token is exhibiting a significant trading range of $0.475-$0.498. As of 1322 GMT, the altcoin had climbed 2.2 percent against the U.S. dollar to trade at $0.488.
At the time of writing, the digital currency had edged up 1.6 percent against Bitcoin [BTC]. At present, one MIOTA is equivalent to around 0.000076 BTC.
IOTA [MIOTA] Price Prediction 2018, 2020
- 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.
- 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 Wallet Investor, the coin will be valued at $0.2445 by the end of this year. However, the coin is expected to start the year 2020 at $1.97.
- Coin Switch has predicted that the altcoin could be valued at $3.21 in a year. Within five years, it is expected to rise to as high as $9.85.
IOTA [MIOTA] Latest Updates
Last weekend, the IOTA team unveiled the latest update on the status of the much-awaited Qubic protocol. Eric Hop, a senior software developer of the community, revealed that there have been some minor changes to the Abra language to make it easier to use. In addition, AbraLib was cleaned up and some initial best practices/patterns were established.
Image via Shutterstock
Join our Telegram group