IOTA Price Update: Strong Support Likely To Give Way to Recovery

By bringing in a blockchain led innovation in the way we know Internet of Things to function, IOTA has captured the imagination of the markets. It is based on this innovative tech that the company has to offer, IOTA has climbed up the ranks and has found a place as the 11th largest cryptocurrency by market cap. The currency has had a number of ups and downs but investors have shown strong faith in IOTA. Let us take a closer look at IOTA price movements and what we expect from the currency.
IOTA Price Update Over 24 Hours
IOTA has been in a slow downtrend over the past 24 hours. The currency’s prices are on a gradual decline – but a 5% fall is something that most investors are quite used to as such fluctuations are common in the markets. IOTA started off the day at a price of $1.95 and a market cap of $5.4 Billion – but closed the day at a low of $1.84 and a market cap of $5.1 Billion.
IOTA Price Update Over 7 Days
IOTA Price, over the past 7 days has been quite mercurial. The currency has gone through a number of ups and downs. When the week began, IOTA started off at a price of $1.94 – and peaked at $2.05. The lowest point of the week came when IOTA price hit a low of $1.77 early on in the week. However, despite the highs and the lows, IOTA looks like it has a rock solid line of support at the $1.7 mark.
IOTA Price Expectations

IOTA price update 4 March 2018

Expected movement of IOTA price | Image; Tradingview

IOTA Prices are expected to continue testing the support at the $1.7 level. The next week is again expected to be as unstable and mercurial as this week – with prices bouncing between $1.7 and $2 from time to time – testing lines of support and resistance on a constant basis. However, the resistance that awaits at $2 is also quite strong and it would require a strong bull-run to break through it.
For more (IOTA) IOTA price related updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.
Check out our complete cryptocurrency price coverage:

Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.

Leave a Reply