IOTA has been on a bearish run in the last two weeks. Will price dig deeper? The following 15-17 January IOTA price prediction looks at IOTA/USD and IOTA/BTC Forecast.
14 January, AtoZForex – IOTA prides itself as the 10th most ranked coin in the Crypto market in term on market cap. It now trades at $3.69. In the last 24 hours, it lost nearly 8% to close at $3.69 and lost nearly 2.3% to close at 0.00027115 Btc. On 19th December 2017, we saw price skied to $6. Two days after, it dropped to just a little above $1 (losing 81% in just two days). The crash quickly recovered to $4 two days after. Since the last week of December 2017 till now, price has been moving within a range. From the technical analysis point of view, IOTA could still return to $1 and could also lose more against BTC.
15-17 January IOTA price prediction – IOTA/USD Forecast
Since the last week of December till now, price has been confined in a triangle pattern. Triangle patterns are often known as continuation patterns. Price is in a corrective state and could continue once there is a breakout below the triangle. A strong dip to $1 is likely in the coming weeks. What about IOTA/BTC?
15-17 January IOTA price prediction – IOTA/BTC Forecast
Just like in IOTA/USD, price has been in a sideway pattern – triangle. The triangle had a breakout downside but quickly went in a channel-like range. The second breakout – breakout below the channel downside- could lead price to 0.00015 or lower to 0.00005. With these two IOTA pairs pointing down, the short and medium term seems to point downside.
As the Internet-of-Things keep expanding, the need for interoperability and sharing of resources become a necessity. IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees.
Do you have other views in contrast to the ones listed or you want to compliment them further? let’s know by your comment below.
Don’t forget to share this analysis with people that matter to you.