- IOTA exhibiting bullish Falling Wedge Formation, potential for significant surge.
- IOTA’s value surged by 3.76% in the last 24 hours.
- IOTA gains against Bitcoin and Ethereum, weekly performance in the green.
Today, a cryptocurrency expert known as Captain Faibik shared his optimistic outlook on the future of IOTA (MIOTA) via Twitter. The analyst pointed out that IOTA has been exhibiting a bullish Falling Wedge Formation on its weekly chart for a significant duration, leading him to believe that a substantial price surge may be on the horizon.
Furthermore, the analyst expressed a positive outlook on the potential for IOTA to break out of its current formation. Should an upward breakout occur, the analyst confidently projected a significant surge of 200% to 250% in the mid-term for the IOTA price. This optimistic forecast highlights the potential for substantial gains shortly.
According to CoinMarketCap, IOTA emerged as one of the few cryptocurrencies that witnessed a positive trend leading up to the weekend. The altcoin’s value stood at approximately $0.194, following a notable surge of 3.76% in the last 24 hours. Consequently, the crypto was trading near its daily peak of $0.1966.
IOTA’s recent surge in price has bolstered its position against two of the market’s heavyweights, Bitcoin (BTC) and Ethereum (ETH). Over the past day, IOTA has gained 2.55% against BTC and 1.99% against ETH. This impressive performance has also propelled IOTA’s weekly performance to a commendable 5.65% in the green.
However, the altcoin’s trading volume within the last 24 hours has declined by over 15%, resulting in a figure of $9,683,276. It’s market capitalization of $539,399,542 positions it as the 75th largest cryptocurrency in terms of market capitalization.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
