We will be analyzing some of the historical prices and market sentiments for MIOTA in order to formulate an IOTA price prediction for February 2020.
IOTA (IOTA) is a unique DLT platform developed for the Internet of Things, which instead of using blockchain is based on a directed acyclic graph (DAG).
This graph is called Tangle, which is a quantum-proof protocol designed to bring “zero fees, infinite scalability, fast transactions, and secure data transfer” to the ledger.
MIOTA is currently ranked 23rd, according to a market cap of $870,935,231, with a circulating supply of 2.779.530.283 MIOTA out of a total of 2.779.530.283 MIOTA. In the last 24 hours, $36,756,457 worth of MIOTA coins were traded, and the current price is $0.313339.
IOTA Price Prediction: Analysis
On January 09, IOTA was changing hands at $0.17898 and showed signs of bullish momentum. On January 17th, the coin then went up to $0.2546 with a surge of 42.26% in just 8 days. January 20 to January 22, MIOTA tested the $0.25 resistance level, but then fell back to $0.23-$0.24 levels.
But starting from January 27th, IOTA started growing once again, closing that day at $0,251298. This surge continued the following days, reaching $0,285681 on January 28th, and by January 29, the price closed at $0.3070. The last few days in January recorded a slight bearish pressure, as the price struggled to keep itself to $0.3 levels.
From January 09 to 31, IOTA saw an increase of 62.86%. The coin started February at $0,294037, and showed signs of an upside movement, as it closed at $0.305092.
The bullish momentum continued, as by February 5th, the coin already reaches $0.33, but slumped down to $0,325960 by the end of the day. On February 8th, the IOTA price dropped to $0.30 levels, but towards the end of the next day, the coin had recovered to $0,321070.
The next days, IOTA continued to add gains, ultimately closing February 11th at $0,330724. Today, IOTA is trading at $0.313339, with a decrease of 5,21%.
IOTA broke the $0.33 level and is anticipated to continue this uptick in price after it went through an extended period of price corrections.
The pivot, resistance, and support levels calculated by WalletInvestor are:
- Resistance Level (R3): 0.363
- Resistance Level (R2): 0.348
- Resistance Level (R1): 0.339
- Pivot Point: 0.324
- Support Level (S1): 0.315
- Support Level (S2): 0.300068
- Support Level (S3): 0.291
IOTA and the open-source software foundation, Eclipse Foundation, recently announced the new Tangle EE working group which will be used to develop practical commercial use-cases for IOTA’s technology.
15 companies are part of the working group, including top companies such as Dell, STMicroelectronics, and the University of Magdeburg.
“The Eclipse Foundation will provide a vendor-neutral governance framework for open collaboration, with IOTA’s scalable, feeless, and permissionless DLT as a base,” said executive director of the Eclipse Foundation, Mike Milinkovich. “By doing so, we will accelerate the development of new applications built with this transformative technology.”
In other recent news, IOTA partner New Mobility Labs posted that Matteo Dariol, the Lead Innovation Strategist at Bosch Rexroth, pitched an IOTA token-based solution to an Apple Enterprise Team for an industrial application.
On Feb 9th, through IOTA ‘s collaboration with Lidbot, a new intelligent sensor based on the IOTA Tangle has been launched. The Lidbot sensor will be used mostly in waste management.
In just a few days the first lot of the smart sensors had been sold out. The company tweeted about the first installation:
“Our clients installed their first batch of #sensors at Sentosa Island in #Singapore. Now it’s time to show them how a small sensor can make a huge difference, ensuring that collection is optimized and the island is clean.”
IOTA Price Prediction: Market Opinion for February 2020
As there are a number of crypto sites that have made their own IOTA price prediction for February, we have decided to include some of these forecasts to help you get a better feel of the market sentiment for MIOTA.
Cryptoground predicted that in one day, IOTA will be trading at $0.4435, with a growth of 44.85%, and in one week, MIOTA will reach a price of $0.4327, which means an increase of 41.32%.
Coinpredictor projected that in February, the price of IOTA will drop by 5.6% which will bring the coin to a price of $0.418853.
WalletInvestor’s IOTA price prediction covers the next 10 days of February, as well as their maximum and minimum daily prices.
Digitalcoinprice believes that this month MIOTA will be trading at $0.81689368, change for February 133.89 %.
Gov.capital calculated that IOTA will be changing hands at $0.381, with the highest possible value of $0.384 and the lowest possible value of $0.377 by the end of February 2020.
Altcoinforecast predicted that IOTA will close the month at a price of $0.35.
Longforecast anticipates that the maximum value for the coin for this month will be $0.41, and the minimum price $0.25. The month’s average price was estimated at $0.34. IOTA’s closing price for the month is $0.38, change for February 26.7%.
Bitverzo predicted that on February 29th, IOTA would have an average price of $0.342943, with a minimum of -$0.847222 and a maximum value of $1.534283.
IOTA Price Prediction: Verdict
This has been our IOTA price prediction for February 2020. We hope that the data and brief analysis we provided will prove useful to you in your upcoming trading ventures involving MIOTA.
Featured image: Crypto News Flash
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