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- 1 The Iota crypto price slumped 6.4% in the past 24 hours and was trading at $0.232 at press time.
- 2 The technical indicators highlight a mixed outlook with short term weakness in the IOTA price.
Iota price turned south in the previous week and edged lower towards the $0.25 level. The price slumped nearly 25% through the week. Moreover, the bulls attempted to turn the trend in their favor and surged the price on Monday.
However, the bears again dominated on the very next day and eroded all the previous day’s gains. At the time of writing, the price was hovering near $0.23 with an intraday loss of 6.4%.
Iota is a ledger that uses a novel technology called Tangle. It enables fast transactions among devices connected to the Internet of Things (IoT). Unlike blockchain, it does not rely on miners to validate transactions. It relies on the participants itself.
IOTA’s vision is to be the standard protocol for data and value exchange among the IOTA devices thus creating a network of trust and innovation.
After dipping in the previous week, IOTA crypto reversed its direction and closed the first trading day of week in positive territory. Furthermore, the very next day bears dominated and at press time price had eroded most of the previous day gains.
Moreover, the long term outlook is positive until the price is maintained above the 200-Day EMA. The short term dips in the price may attract more buyers at the lower levels and the IOTA crypto may experience a comeback.
The technical indicators show a mixed outlook as the IOTA price fell below the 20-Day and 50-Day EMAs. However, the IOTA is still hovering above the 200-Day EMA which shows positivity in the broader time.
Iota Price Prediction 2024
The price prediction of IOT crypto for 2024 shows that the analysts are bearish about the short term trend and expect that the price may reach a high of $0.402 by the year end. Moreover, the bearish view of analysts expects the price to reach $0.331 by 2024.
Iota Price Prediction 2025
The most optimistic analyst forecast for the Iota cryptocurrency expects the price to reach a high of $0.542 with a potential gain of 135.80% from the CMP. The minimum forecasted price by the end of 2025 is $0.439.
Iota Price Prediction 2026
Over the next two years, the Iota crypto may attain a high of $0.644. Whereas, the lowest price that the crypto may attain is $0.530.
Iota Price Prediction 2027
As per the analysts, the most optimistic price target that the IOTA crypto may achieve by 2027 is $0.831. On the other hand, the lowest price target is $0.676.
Iota Price Prediction 2028
The most optimistic price target that IOTA token may achieve by the end of financial year 2028 illustrates that the price may attain a high of $1.12. On the other hand, the pessimistic view of analysts expects the price to reach $0.902 by 2028.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
