IOTA Took A Beating Yesterday, Struggling For Price Recovery Now

The price movements in the altcoin news show that IOTA took a beating yesterday and is right now struggling to stay above $0.1967. In fact, the news today show that the MIOTA token is again at $0.19 and the next halt may even push it lower.

Meanwhile, the crypto market is dealing under pressure and all coins are spotted with a bearish trend which seems to continue for some time now. IOTA is also under a similar trend and its coin price is frozen at around $0.1967 at press time. The situation has been similar over the past 7 days and the improvement is speculated to take place in some time.

In the intraday chart, we can see that IOTA took a beating and is reflecting a moderate drop now. Yesterday, we saw the IOTA coin dealing at $0.187 and the price surged to $0.198 by 0.57%. The currency slipped to $0.196 by 1.19% in the couple of hours which followed – and escalated to $0.199 by a new 1.81% drop.

Now, we can see that IOTA took a beating and it began the day today with another tremendous fall which touched $0.194. Luckily, the coin’s momentum reversed and the IOTA news today show that the price jumped by 1.51% reaching the $0.197 level again.

As it stands, the $0.197 is seen as the major support level for the MIOTA token. The price recovered slightly and is now above the immediate support level – and there is a slight possibility for this altcoin to jump to the immediate resistance level at $0.200. The traders interested in IOTA are recommended for opting to the long-term investment.

A future price prediction for the coin is unavailable yet because of its constant fluctuations.
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Ever since IOTA took a beating yesterday, we could see that the price escalated, fell, escalated and is finding it hard to stabilize. At press time, the daily volume for IOTA is at $5 million while the total market cap is at $530 million. The coin’s latest momentum is a 2.59% decrease and a price at $0.19 as we speak.

In the other news, we can see that most of the coins are in mixed reds and greens. The biggest earner today is Tezos (XTZ) which started the day with a fresh 18% increase but then corrected and now posts a 11% increase only.