IOTA Price Prediction for the Next 5 Years Recent Developments for IOTA/USD At least, moving averages have turned from support into resistance on larger period charts, so let’s hope they will offer support for IOTA. The implementation of the Internet of Things (IoT) has picked up pace since the beginning of the COVID-19 pandemic, but despite IOTA being the system for IoT transactions, it hasn’t benefited from that either, which raises questions for investors. Currently price is under the key $1.00 level, however, we can see that the downtrend has been broken.
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Price has moved in conjunction with the overall market and in particular Bitcoin, which is well off its recent highs.
![iota price forecast iota price forecast](https://bitcoinexchangeguide.com/wp-content/uploads/2019/07/iota-mt.png)
With the overall market turning bearish in the past few months, IOTA has seen its price fall away from the most recent highs of around $2.60. But, while the rest of the crypto market surged in the second half of 2020, Iota continued to trade within a range, missing out on the recent surge, which took Bitcoin to $ 20,000 for the second time. The price eventually came down, together with the rest of the crypto market, and traded sideways for two years. IOTA benefited immensely from the surge in the cryptocurrency market in 2017, rising rapidly from around $ 0.20 to $ 5.80 by December that year. The first key marker will be if price can reclaim the $1.00 level which has been important as both support and resistance. Price has bounced off the most recent lows of 60 cents, however, we won’t likely see more upside until the entire market begins to turn things around. The sharp rise early in the year took price up 10 fold as many felt that IOTA was about to fulfil some analysts lofty ambitions. Read the latest Update at the Bitcoin Price ForecastĪfter peaking at nearly $2.70 in early April, IOTA has seen a steady decline in line with the entire sector.
![iota price forecast iota price forecast](https://bitcoinexchangeguide.com/wp-content/uploads/2018/10/iota-lt-768x429.png)
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