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Chukwuemeka Raphael
May 16, 2022
by Chukwuemeka Raphael

What to Expect if IOTA Trades Below $0.15

IOTA trades below
Most investors are happy with the recent pullback in the price of most cryptocurrencies. There is a possibility that IOTA trades below $0.15 in the near future. However, for IOTA (MIOTA), it could go either way after it has surged to $0.335 and gained 34.44% in the past 24 hours. At the time of writing, the 24 hours low and high prices of MIOTA were $0.237 and $0.3403. It holds the possibility of reaching a new bottom after attaining a 90-days low price of $0.2759 on May 12th, 2022.
Next, let's explore the possible consequences if IOTA trades below $0.15 or nears that level. Here are a few:

  • A high re-bounce to trade around $0.45

  • A consolidation to determine the next move

  • A dip breakout to trade below $0.1.

    • A High Re-Bounce to Trade Around $0.45

    A price-dip of IOTA trades below $0.15 is likely to occur soon. If this happens, the present re-bounce that had made it surge by over 34% in the past 24 hours would be a minimum pullback. The extreme buyers' continuous pressure would give it a high uptrend to regain the recent losses.

    A Consolidation to Determine the Next Move

    At about $0.15, IOTA might experience consolidating prices for some days. The reason for this is that most investors and traders want a clear signal before deciding on their next move. MIOTA holders should expect a consolidation of the market to last for some time unless a major update or change occurs within the IOTA ecosystem.

    A Dip Breakout to Trade Below $0.1

    Sellers might wish to cash out from the market to minimize their losses. Consequently, this could trigger a selling pressure which might push the price of MIOTA below $0.1. CoinMarketCap states that more investors are likely to buy the dip at this cost, as it is almost getting close to its all-time low price of $0.07962.

    Conclusion

    It would be wise to invest with caution as the current market pullback could reverse the lead to a higher crypto winter than the one just experienced.

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    What to Expect if IOTA Trades Below $0.15
    Chukwuemeka Raphael
    Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

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