IOTA Price Prediction 2021 – Will MIOTA Hit $2 Soon?
- Bullish MIOTA price prediction ranges from $0.99 to $1.71.
- The MIOTA price might also reach $2.
- MIOTA bearish market price prediction for 2021 is $0.24.
In MIOTA price prediction 2021, we use statistics, price patterns, ADX, and much other information about MIOTA to analyze the future movement of the cryptocurrency.
IOTA (MIOTA) is a distributed ledger containing only one difference, it is not a blockchain. But rather its proprietary technology is called Tangle, which is a system of nodes that confirm transactions. Moreover, the foundation behind this project says this provides far greater speeds than conventional blockchains. In addition, an ideal footprint for the ever-growing Internet of Things ecosystem.
Current Market Status of IOTA(MIOTA)
According to Coingecko, the price of MIOTA is $0.673 with a 24-hour trading volume of $36,203,649 at the time of writing. However, MIOTA raised 5.01% in the last 24 hours.
Moreover, MIOTA has a circulating supply of 2.78B MIOTA. Currently, MIOTA trades in cryptocurrency exchanges such as Binance, OKEx, FTX, Huobi Global, and Upbit.
IOTA(MIOTA) Price Prediction 2021
IOTA(MIOTA) holds the 51st position on CoinGecko right now. MIOTA price prediction 2021 is explained below with a daily time frame.
A falling wedge pattern is a bullish pattern that begins wide at the top and contracts as prices move lower. A falling wedge pattern designed by two converging trend lines when the stock’s price has been falling for a certain period. If a falling wedge appears during a downward shift of momentum in the market, it considered a reversal pattern
Currently, MIOTA is waving at $0.67. After this, MIOTA may continue to fall or rise according to the direction of the breakout. With this pattern, MIOTA might reach the resistance level at $2.42 soon. If the trend reverses, then the price of MIOTA may fall to $0.55.
IOTA (MIOTA) Support and Resistance Level
The below chart shows the support and resistance level of IOTA (MIOTA).
From the above chart, it observed that the following are the resistance and support levels of MIOTA.
- Resistance Level 1 – $0.99
- Resistance Level 2 – $1.20
- Resistance Level 3 – $1.71
- Support Level 1 – $0.50
- Support Level 2 – $0.37
- Support Level 3 – $0.24
The chart shows the bearish performance of MIOTA over the previous month. However, this trend might continue to reach a resistance level at $1.71 soon. On the contrary, if the trend reversed then MIOTA might fall to $0.24 presenting a bearish signal.
IOTA(MIOTA) Average Directional Index (ADX)
Let us now look at MIOTA’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.
The above chart represents the ADX of MIOTA with the range at 33, so it indicates a strong trend.
Conclusion
The MIOTA is one of the cryptos which is great for long-term investment. In addition, MIOTA price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance to reach its all-time high (ATH) of $5.25 this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the MIOTA ecosystem, the performance of MIOTA would rise reaching $1.71 very soon. But, it might also reach $2 if the investors believe that MIOTA is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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