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
IOTA/USD price chart, H2 (click to zoom)
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
IOTA/BTC price chart, H2 (click to zoom)
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.
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