IOTA Price Prediction

Since the beginning of the year, IOTA has been rising and falling along with other popular cryptocurrencies and the crypto market in general. The coin of IOTA, which is known as one of the most effective projects in the cryptocurrency market, was trading in April at $2.54, nearly 800% return from the start of the year. But, as we already know, the crypto market is another story, and IOTA dropped around 65% due to the crypto mini-crash that started in May.Still, IOTA has the potential to rise again in value in the short and long term. So, in this IOTA price prediction, we’ll take a closer at IOTA price history performance and include IOTA forecast for 2021 and beyond.

We’ll also help you get the necessary information to determine whether it is the right time to buy or short sell IOTA and suggest the best online trading platforms that support IOTA coin.

IOTA Price Prediction 2021

Before we continue to analyze the technical aspects of the IOTA project and its coin historical price performance, it’s best to first find out what’s the prediction for IOTA price for 2021 and beyond. Our IOTA price prediction is based on technical and fundamental analysis as well as on analysts’ market predictions.

First, our IOTA technical analysis shows a bullish setup based on the recent break above 0.8028. As you can see in the chart below, IOTA was hovering around the 0.8028 (0.786 Fibonacci level) for several weeks as a support level, but as soon as the coin bounced back up, IOTA has managed to stabilize above this level. Thus, our 1-3 months IOTA price prediction shows that the next Fibonacci resistance level is somewhere around $1.2153-$1.5050.

IOTA 1-Day chart 2021
IOTA 1-Day chart 2021

IOTA Price Prediction 2022-2023

Looking ahead, IOTA is forecasted by some analysts in the crypto world to continue its upward trend that started in January, after a long period of range trading. As a matter of fact, MIOTA was trading in a very narrow range between $0.19 to $0.51 for two years from January 2019 until January 2021. But as often happens after a long period of range trading, an asset is ready to pick a trend. In the case of IOTA, it seems that the coin started a positive upward trend.

By the beginning of 2022, MIOTA is expected to reach around $1.5, an increase of 66% from the current IOTA price today. By the start of 2023, some analysts predict the coin could be trading at $2.3, though some analysts provide more optimistic target prices for MIOTA at $3.5-$4 in 2023.

IOTA Price History – the Story of 2021 So Far

So far this year, IOTA has had a crazy start of the year, rising from $0.29 on January 1st to its yearly high of $2.59 on April 16. Then, IOTA fell sharply by nearly 80% to its lowest level of the year of $0.59 on July 21, largely due to the mini-crash in the crypto market that started in mid-May. The crypto market crash came as a result of Elon Musk and Tesla’s announcement that the electric car company would not accept payments in Bitcoin or any other cryptocurrency due to the bad impact it has on the environment.

Further, China’s war on Bitcoin and the crypto market, in general, has had a huge impact on each digital coin after the Chinese government banned companies and financial institutions from providing crypto-related services in May. But over the last two weeks, the crypto market rebounded strongly amid rumors that Amazon would start accepting Bitcoin and cryptocurrencies soon – Bitcoin, IOTA, and other altcoins surged higher after Amazon posted crypto and blockchain-related position.

IOTA, like the vast majority of digital assets, soared by more than 70% in less than two weeks, and it is now trading slightly below a crucial resistance level of $0.95-$0.98. Overall, since the beginning of the year, IOTA’s YTD return stands at 195% as of August 3, 2021.

IOTA Chart 1D Chart Since June
IOTA Chart 1D Chart Since June

IOTA Price Forecast

Recently, there are signs of recovery in the crypto field, so it might be the right time to buy IOTA. Bitcoin jumped from below $30,000 to above $40,000 in two weeks and the vast majority of altcoins, including IOTA, followed. The main reason for the recovery in Bitcoin and cryptocurrency prices is the rumor that Amazon might accept cryptocurrency as a form of payment in the future. This could be a major boost to crypto prices and to the price of IOTA, similar to what happened when PayPal announced in April it allows purchases using Bitcoin and other digital assets.

Nonetheless, the IOTA coin is still in a neutral area and it’s difficult to say if the last surge in price was a correction or a beginning of a new trend. The current IOTA price live seems to reach a point of consolidation, which sets up a flag pattern. An ideal flag pattern is characterized by a strong higher move, followed by sideways trading. Thus, if the coin breaks above the $0.96 level and the psychological 1$ mark, it is a signal for a strong move up.

Crucially, like many other altcoins in the cryptocurrency market, IOTA is highly correlated to Bitcoin at the present moment, meaning it is important to follow any news and updates about the most important digital currency in the world. In the chart below, you can see the high correlation between IOTA and Bitcoin since IOTA was launched in 2017.

IOTA vs BTC all time chart
IOTA vs BTC all time chart

In the second half of 2021, it’s predicted that the IOTA price will close the year at around $1.26 to $1.33. On the contrary, if the crypto market fails to continue its recovery mode in the upcoming month, the bearish IOTA forecast is that the coin will end up the year at around $0.67-$0.76.

IOTA Price Prediction Long Term Outlook

Much like Bitcoin and other cryptocurrencies, IOTA has struggled to stabilize its price this year and remained far away from its all-time high level of $5.36 in 2017. That said, the future of the coin that best represents the Internet of Things technology still seems very positive, at least in the eyes of investors and crypto analysts. The fact that IOTA has a great distributed ledger technology that is used for daily operations makes this project valuable and unique, something that is not very common with all projects in the crypto space.

For those of you who are familiar with the IoT, it is essentially a real-world application that is being used in smart homes, smart cars, security cameras and sensors, a connection of health devices, intelligent traffic control, etc. Some of the most famous IoT examples include WiFi, Siri and Alexa, autonomous cars, iRobots, smart watches, etc. Another thing that is very special about the IOTA network is that it has developed its own platform knowns as Tangle, which functions the same as the traditional blockchain technology, but it was designed for Internet of Things applications and devices.

When we take a look at the IOTA project, it is very likely that IOTA will become the most dominant IoT (Internet of Things) network in the future, a field that is growing exponentially and is expected to be a huge part of information and communications technology (ICT) ecosystems in small businesses and large infrastructures. Overall, the IoT market is expected to grow to 1.6 trillion  U.S. dollars in size by the end of 2025.

All things considered, it’s ‘perfectly logical’ that MIOTA price will reach at least the mid-level of the previous high of $5.36 in 2017, meaning $2.68 – the highest level of the latest upward trend in 2021.

IOTA Price Prediction Long Term Outlook

IOTA Price Chart

Based on IOTA daily, weekly, and monthly charts – IOTA is trading in a rising channel (if we remove the unexpected increase in value in late 2017 – early 2018). In the monthly chart, MIOTA is trading above the 50-period simple moving average of 0.7162 and above the exponential MA of 0.7129. If the coin will stay around these levels for some time, then IOTA is in a bullish trend and the next resistance is at 1.04, 1.16, 1.39, and then at 1.52.

IOTA chart eToro

With that in mind, the crypto market is very unpredictable and volatile, meaning anything can happen. If IOTA’s…

Read More:IOTA Price Prediction