IOTA (MIOTA) has been on the news for a long time. Thanks to all the incredible partnerships of the IOTA Foundation.
Unfortunately, the price of MIOTA does not reflect development and the growth of society. Just like all other altcoins, MIOTA is also working poorly in the market. News about business partnerships and support is not enough to raise prices at this time.
The question is, will it be enough in the future (IOTA Prediction)?
IOTA Discovering Unlimited Opportunities
The IOTA industry is gradually dominated. Thanks to Tangle, which has IOTA’s blockless technology. The platform will change in the industry. Please note that IOTA focuses on the machine, which forms the basis of most of the agreements it has made with automotive companies.
As reported by theoofy.com, IOTA has made agreements with some of the best players in the industry, including; Fujitsu, Volkswagen, BMW and Bosch.
With all these exciting partnerships, you would expect the price of the local MIOTA token to make $ 1 so far. Unfortunately, IOTA is fighting in the market.
Last week, cryptocurrency only increased by 0.08% against the USD. This week will likely record a decline. The token has been greatly reduced this year.
Will IOTA Cross The $1 Mark? (IOTA Prediction 2019)
In January, IOTA (MIOTA) increased up to $5, thanks to the upward rally that affected all the crypto currencies that started with Bitcoin.
Since then, the price of IOTA (MIOTA) has fell down significantly, but this is not an isolated drop. Other crypto currencies are also falling. So, selling over US $ 1 is not realistic. Agreements with various companies are enough to give IOTA a thrust.
However, the result of these partnerships may not be observed until the downward pressure decreases.
Price Analysis: IOTA (MIOTA)
IOTA (MIOTA) has risen to a great extent in the last 24 hours and has risen to $ 0.599 at some point.
However, since then it has retrained from $ 0,559 to the 100-day MA. It now processes between 100-MA with support and 200-day MA with intraday resistance.
For a low-risk trade in this crypto, a break out of that range will make the best move. In the scenario where IOTA (MIOTA) gains momentum at this point and rises above US $ 0.574 in the 200-day MA, a long position will present the best risk / reward potential.
If IOTA gains bullish momentum at this level, chances are that its next resistance level will be at $0.611.
However, if IOTA (MIOTA) pushes below $0.559, then it could potentially touch a low of $0.531. This is a low it has hit in the last 24 hours, and could be a good exit point for a short-term sell order.