Can IOTA (MIOTA) Crypto Hit $5? | Compatible IoT Offering Tamper Proof Data Security

4 min read

  • Bullish MIOTA price prediction ranges from $1.79 to $2.30.
  • MIOTA bearish market price prediction for 2021 is $0.93.

IOTA does not use blockchain technology to perform its tasks, as opposed to competitors. ThIS platform depends instead on several applications for the Internet of Things (IoT). As such, the scalability of this platform and its infinite commercial applications are unparalleled.

MIOTA price might also reach $5 soon.

IOTA (MIOTA) is a new distributed ledger platform with smart contracts that fundamentally redesigned distributed ledger technology. As a result, the network was able to provide a secure exchange of data and value without charging fees. In addition, IOTA is designed to be compatible with the Internet of Things (IoT), with low resource requirements and tamper-proof data security.

This IOTA (MIOTA) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our MIOTA price analysis and prediction.

IOTA is a distributed ledger that facilitates the exchange of data between connected devices in the IoT ecosystem. The Tangle technology will also solve the challenges faced by Bitcoin, such as performance and scalability. Each new transaction in Tangle confirms two previous ones. The technology functions as a network of nodes.

In this MIOTA price analysis and price prediction we take a look at the performance of MIOTA if it will reach $5. But before that, let us learn more about IOTA (MIOTA) and its current position in the crypto market.

What is IOTA (MIOTA)?

MIOTA is a cryptocurrency network based on blockchain technology. It was founded in 2015 by Sergey Ivancheglo, David Sontesbo, Serguei Popov, and Dominik Schiener.

Furthermore, the IOTA network seeks to play a central role in the coming industrial revolution. Specifically, IOTA plans to enable economic relationships between machines while connecting the human and machine economies.

In terms of its cryptocurrency, the network has its own native cryptocurrency: MIOTA. This cryptocurrency is used to pay all the transaction fees within the network. In addition, MIOTA is also utilized as a reward for all its community participants.

MIOTA Market Status November 2021

As of the time of writing this IOTA price analysis, MIOTA trades at $1.43 with a 24-hour trading volume of $91,122,056. The price of MIOTA has decreased by 1.61% in the last 24 hours.

Furthermore, MIOTA has a current circulating supply of 1.49B MIOTA. For traders and investors interested in MIOTA, crypto trades at exchanges such as  BinanceOKExFTXHuobi Global, and HitBTC. Of course, these are just some of the many exchanges that the crypto is listed at.

Now, let’s proceed to the next part of this MIOTA technical analysis for 2021.

IOTA (MIOTA) Price Analysis 2021

Currently, IOTA holds the 46th place on CoinGecko. But will the latest upgrades, developments, and changes in the MIOTA blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this MIOTA price prediction article.

MIOTA USDT chart showing Ascending Channel pattern
MIOTA/USDT chart showing Ascending Channel pattern (Source: TradingView)

Based on the chart above, MIOTA positions itself along with the raging bulls. Today, MIOTA trades at a high price of $1.43.

In addition, we can see that MIOTA recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, MIOTA is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with MIOTA.

Conversely, if the bulls turn against the crypto, the price of MIOTA might fall. In short, MIOTA might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

MIOTA Relative Strength Index
MIOTA Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is close to 56.48, which means that MIOTA is in a nearly overbought state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of MIOTA.

MIOTA 30-day SMA and 50-day EMA
MIOTA 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, MIOTA ’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, MIOTA has a competitive market this 2021.

IOTA (MIOTA) Price Prediction 2021

The chart below shows that IOTA has performed great over the past few days. Moreover, the MIOTA price over 20% in the last 7 days. If this trend continues, MIOTA might run along with the bulls, overtaking its $2.3 resistance level and reach higher.

MIOTA USDT Price Chart
MIOTA/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone MIOTA from its uptrend position. In simpler terms, the price of MIOTA might drop to almost $0.93, a bearish signal.

Meanwhile, our long-term MIOTA price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $5.69. However, that will only happen if it breaks many previous psychological resistances.

IOTA (MIOTA) Price Prediction 2022

If this bullish trend continues, MIOTA will reach $6.5 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $7. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $6.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

IOTA (MIOTA) Price Prediction 2023

If IOTA holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $8, making it not plummet but play consistently.

IOTA (MIOTA) Price Prediction 2024

As per the latest upgrades, developments, IOTA price prediction, and new project forecasts of the platform, IOTA investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of IOTA in the crypto market, and it will be the best investment as the price can spike and reach around $10.

IOTA (MIOTA) Price Prediction 2025

In the next four years, MIOTA prices could race up to $25. However, reaching this level could not be so difficult for MIOTA as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that MIOTA has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

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