Crypto Analyst Predicts Significant Rally for IOTA (MIOTA)
A well-known crypto analyst, Captain Faibik, recently took to Twitter to express his belief in the potential for a significant price surge in IOTA (MIOTA) in the near future. According to the analyst, IOTA has been trading within a bullish Falling Wedge Formation on its weekly chart for a considerable period of time. The analyst also revealed their optimism regarding the possibility of IOTA finally breaking free from this formation. If an upward breakout occurs, he confidently predicts a substantial rally of 200% to 250% for the IOTA price in the mid-term.
As of the time of writing, IOTA was one of the cryptocurrencies trading in the green heading into the weekend. The altcoin was worth around $0.194 after experiencing a price increase of 3.76% over the past 24 hours. This positive performance allowed IOTA to strengthen against both market leaders, Bitcoin (BTC) and Ethereum (ETH) throughout the past day. IOTA was up against BTC by about 2.55% and up against ETH by 1.99%. In addition to this, IOTA’s positive performance also pushed its weekly performance even further into the green at 5.65%.
However, the altcoin’s 24-hour trading volume experienced a more than 15% drop, which left it standing at $9,683,276. Its market cap of $539,399,542 ranked it as the 75th biggest crypto in terms of market capitalization. Despite this, the analyst’s prediction of a significant price surge in IOTA has generated a lot of interest among crypto enthusiasts and investors.
It should be noted that the views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
In conclusion, crypto enthusiasts and investors are keeping a close eye on IOTA (MIOTA) as the altcoin continues to show positive signs of growth. With the possibility of a significant price surge in the near future, many are eagerly anticipating the next move for IOTA. As always, it is important to do your own research and due diligence before making any investment decisions.