Market experts have been very bullish about the growth of IOTA. Over the past few days there have been multiple reports claiming that the cryptocurrency is going to get into a major growth rally. The current price fluctuates between $3.5 to $4, but if the market analysts are to be believed, the currency might be hitting the $7 mark over the next week.
In the past we have come across reports predicting IOTA’s growth to be around $9 to $10 in the near future. As a follow up to that report, the currency continues to grow in the strong trend that it was following back then. The next short term target should be that of $5 – post which the currency is expected to get a minor correction which would take the price to around $4.3. These numbers come from Tradingview analyst Eric Draht.
However, after that short correction – another boom is expected in IOTA as it’s zig-zag movement to the top continues. If it falls around $4.3 – the currency is then expected to gain another $2 in short term and reach levels of up to $6.5 – where another correction would take it to $5.7 or so. While these numbers are not absolute – it is certain that a proportional drop will follow.
After this expected drop to $5.7 – IOTA is expected to reach as high as $7 and beyond. While no deadline can be ascertained, it is expected to happen over the next week to ten days.
As of now this analysis is based on the way the currency is currently moving and the trajectory it is likely to follow. Markets of cryptocurrencies function on sentiments and can change any time! We advise traders to invest with caution.
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 advise.