IOTA Price Prediction: Long-term (MIOTA) Value Forecast

[Shahinaz]

IOT/USD Long-term Trend -Ranging
Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600

IOTA continues in a range-bound market in the long-term outlook. As predicted in last week analysis, the bulls sustained their momentum within the range with a high of the week at $0.3358.

The breakout at upper price range on 21st march could not be sustained as the bulls lost momentum. This led to the candle closing within the range with a wick.




The double–top formation at $0.3350 coupled with the inverted hammer around the upper supply area are confirmations that the bears are back to push price down south, toward the lower demand area in the days ahead as the cryptocurrency continue in a range-bound market.

The stochastic oscillator signal points down at 64%. This suggest further downward momentum in price in this new trading week.

MIOTAUSD is ranging and trading between $0.3286 in the upper supply area and at $0.2600 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence traders should be patience.

source: https://bitcoinexchangeguide.com/iota-price-prediction-long-term-miota-value-forecast-march-24/