IOTA - a little chance for another 400% price increase
The IOTA price is coming up again and currently being traded at around 1.10USD/MIOTA. Many were calling for the start of a new bear market due to the recent price drop. However, even the drop to 0.57 USD is quite insignificant when looking at the larger picture. At the current new bottom at 0.57 USD IOTA still traded at a 1000% higher price than one and a half years ago.
Looking at technicals such as MACD and assuming we have the new bottom in, a bull flag could play out leading to a much higher price if we break-out to the upside in the coming months. Volume on the weekly is much more in the favor of the bulls. +400% seems surprisingly optimistic, but one should never underestimate momentum and many bears have been proven wrong in the recent past.
Therefore, let's put a bullish prediction on the table: 6 USD in a bit less than one year
This is not financial advice. Happy trading!
Looking at technicals such as MACD and assuming we have the new bottom in, a bull flag could play out leading to a much higher price if we break-out to the upside in the coming months. Volume on the weekly is much more in the favor of the bulls. +400% seems surprisingly optimistic, but one should never underestimate momentum and many bears have been proven wrong in the recent past.
Therefore, let's put a bullish prediction on the table: 6 USD in a bit less than one year
This is not financial advice. Happy trading!
