Jacob Bury
The price of IOTA crypto exploded by over 15% in the last 24 hours as an influx of trading volume came in. Just this morning the price of IOTA was roughly $0.27 before it rocketed up to $0.315 but has now firmly found support at $0.30.
Could IOTA be making its way back up towards a key resistance level of $0.35 where traders could anticipate a large breakout?
IOTA is available on OKX for trading, holding or staking.
IOTA Crypto Price Prediction 2022
From a technical analysis point of view IOTA is starting to gather bullish momentum and could be on the brink of breaking out soon. IOTA crypto has been trading within a horizontal channel over the last 140 days and could possibly print another swing high to a key resistance level before pumping further.
IOTA/USDT – Weekly Time Frame.
When Bitcoin crossed the 200-week moving average on the 13th June 2022, it seems that IOTA found a bottom at $0.23. Since then, the market conditions for crypto have flipped from an extreme fear sentiment to fearful.
On the 19th of September, IOTA was trading at $0.246. Traders who managed to dollar cost average in at those particular levels would now still be up by 21.94%.
If IOTA can maintain enough bullish momentum I think a realistic price target for the remainder of 2022 could be a swing-high to the technical target of $0.455.
This would depend on the trajectory of Bitcoin and other externalities such as harsh macro-economic conditions that are placed upon the blockchain markets at present, suppressing continuation of a crypto bull run.
Should IOTA run out of steam and the bears take control again, there is a good chance that IOTA will retest the support level of the horizontal channel once again at $0.24.
IOTA Crypto Long Term Choice?
Whilst the short-term scenario for IOTA could generate fairly good returns, it is still very much a dubious speculation as we delve deeper into a crypto winter which could still last over 2 more years.
Crypto bear markets can be great to take advantage of when looking to have a long-term investment strategy, by holding on through to the next crypto bull run and dollar cost averaging blue-chip cryptos into your portfolio.
I speculate that IOTA crypto is now in a key undervaluation re-accumulation range as the current price we see today is nostalgic of the prices in the 2019 and 2020 bear market.
IOTA/USDT – Weekly Time Frame.
The above chart reflects an extreme greed phase (green), downtrend (orange) and undervaluation phase from extreme fear (red). Currently IOTA trades at the same price levels of 2018-2020 where we can see the weekly relative strength index also came down to an oversold position.
By the next crypto bull run there is a very good chance that the price of IOTA will go back up above price levels beyond $2.50. In 2017, according to Coinmarketcap the market capital for IOTA was as astonishing $14.92 billion.
Whilst it may or may not ever go that high again, we could still see a 5-10x from current price levels as the market capital is now just $833 million. By 2024-2025 it would be realistic to see the price of IOTA chopping between $2.40 and $3.91.
IOTA Crypto Video Analysis
I speculate that IOTA will certainly be here to stay as they have the cash reserves to focus on strong protocol upgrades through a bear market. Surprisingly, IOTA actually revealed today on their official Twitter page @iota that they will be launching a completely new token known as Shimmer (SMR).
This is the week where, for the first time since the start of #IOTA in 2015, we launch a new token to the world.
Couldn't be more excited for what will follow. #Shimmer $SMR pic.twitter.com/jEe4hF4gsr
— Dominik Schiener ✨ (@DomSchiener) September 26, 2022
This is genuinely a green flag as it shows the developers are focusing on utility and fundamentals as opposed to short-term profits. IOTA identifies the potential of the blockchain industry and is focused on longevity and long term developments.
Stronger Alternatives to IOTA Crypto?
IOTA crypto is looking like a great option to potentially hold over the next 2 or 3 years. If you are looking for something that might prove to be more lucrative this crypto bear market then Tamadoge could be a very strong choice.
Following an extremely successful presale raising over $19 million in just 6 weeks, Tamadoge is now set to launch on the OKX exchange at 12pm BST tomorrow. Holders anticipate a large pump to the upside and potential traders sitting on the sidelines are very excited to see what might play out.
The reasons why Tamadoge could explode upon launching is due to its strong utility, deflationary supply, tax free transactions and has a low maximum supply of 2 billion tokens.
In addition to this, Tamadoge is a play-to-earn memecoin where players can explore an immersive world through augmented reality and raise and nurture their very own NFTs.
The roadmap is created with a long term vision and security is in the forefront of the Tamadoge developers minds as they have also been KYC’d by Coinsniper and Solid Proof audited to ensure trust and authenticity within the crypto community.
If you are looking to potentially buy Tamadoge upon its launch on a Tier 1 exchange tomorrow, you can head over to OKX, signing up will autonomously enter you into a prize draw where you could also win $10,000.
Related news:
- How to Buy Tamadoge in 2022
- 12 Best Cryptocurrency to Invest in September 2022
- Bitcoin Price Prediction
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption
This article was written for Business 2 Community by Jacob Bury.
Learn how to publish your content on B2C
Join our Telegram channel to stay up to date on breaking news coverage
Add B2C to your Google News Feed
Discuss This Article
Add a New Comment /Reply
Thanks for adding to the conversation!
Our comments are moderated. Your comment may not appear immediately.