IOTA price forecast: MIOTA / USD exchange rate starts the new year with a 2 percent increase

Overview of IOTA course increase

But those who have stuck to their IOTA investment despite the disappointing development may be able to finally look forward to a return this year. At least 2020 will start very promising for IOTA investors. The MIOTA / USD exchange rate rose by around 2.2 percent in the past 24 hours. The weekly plus is almost 5 percent. The MIOTA / USD exchange rate is currently trading at $ 0.1628. As a result, the altcoin has again moved well above the $ 0.15 mark and could now rise to $ 0.2.

IOTA’s market cap has also grown and is now over $ 450 million again. Almost $ 10 million in capital was added on the previous trading day.

But is the MIOTA / USD exchange rate really going upwards in the long term? Or is it just a short recovery period before the next break-in. The detailed chart analysis provides initial information for the IOTA price forecast.

Let us consider the most important facts about the price development of MIOTA / USD in the past trading week:

  •     The maximum price in the past week was $ 0.1697 on December 29 at 21:24 CET.
  •     The trading week’s minimum reached MIOTA / USD on December 25 at 21:15 CET at $ 0.1538.
  •     The median price over the past week was $ 0.1617.

These few facts show that the price was at its lowest level in the first half of the past seven trading days. After that it went up continuously over four days until December 29th. However, the MIOTA / USD rate has not yet broken the $ 0.17 hurdle and has eased somewhat against the weekly high.
Current news about IOTA

What is the latest IOTA news? From announcements and upcoming decisions, conclusions can sometimes be drawn for the course forecast.

The most noticed IOTA news this week was negative. So there was a 15 hour downtime in the IOTA network due to a software error. No transactions could be processed during this time. Even if the problem has now been resolved, many users were particularly annoyed by the communication policy of the IOTA developers about the incident. Many users felt that those responsible had reduced the problem and felt that their worries were not being taken seriously, as various community posts in the social networks show.

So this IOTA news gave little cause for euphoria among investors.
Comparable 2019 IOTA chart patterns

Past chart patterns that can be compared with the current development can also provide clues for the price development of a cryptocurrency.

If you look at the chart analysis for the past 365 days, there is a comparable pattern to the current trend of MIOTA / USD in March 2019. The course of the curve from March 15 to March 23 shows strong similarities to the current development. The chart analysis initially shows a rising price before there is a small price correction.

A short time later, the price rises again to the level of the 1st increase in this period. This wave movement can also be seen in the time corridor of the past two weeks. What happened next? The MIOTA / USD exchange rate increased significantly in the following weeks and rose by almost 11 percent from March 23 to April 9.

The chart pattern is only one possible scenario out of many, but gives hope for rising prices in the near future. As always, investors should keep an eye on the price development in order to be able to act in good time.