The crypto market started off with a big bounce this month as Bitcoin finally showed the promise to hold and hold $ 50,000 while Ethereum failed to hit its all-time high of $ 500. This market performance has enabled various altcoins to generate massive profits. MIOTA is one of the coins that have seen double-digit growth in the last 24 hours.
MIOTA is trading at $ 1.84 at the time of writing, after gaining 14.3% in 24 hours.
MIOTA price analysis
The current MIOTA boom has allowed the coin to hit new highs. In the past 24 hours, MIOTA managed to break the main resistance at $ 2.04 but was rejected shortly afterwards. The coin is currently at a monthly high, which is attributed to market and purchase support.
If the rally continues, we could see MIOTA break the next major resistance level of $ 1.90. This will create another opportunity for the coin to rebound towards USD 2 and beyond. While MIOTA is far from reaching its all-time high, broader market support could lead to these new highs if bullish sentiment persists in the months ahead.
Looking at MIOTA’s price movement over the past 24 hours, the coin has not been able to maintain a level above $ 2. After the coin hit $ 2.04 the coin was in a dip and if buyer support wears off we could see the coin drop even lower to retest the support level at $ 1.78. However, retesting support levels could allow the coin to enter a strong bullish phase.
Overall market sentiment was bullish and as a result we could see altcoins like MIOTA heading for new highs. Blockchain adoption has also increased, and if we see the IOTA blockchain being adopted in the market, MIOTA’s value could be heading for new highs.
Where can I buy IOTA?
If you want to buy MIOTA during the current bull run, you can create a cryptocurrency account with eToro. eToro is a social copy trading platform that empowers new traders by allowing them to copy the trading strategies of seasoned traders. Its trading fees and commissions also make it an ideal platform for crypto trading.
Would you like to buy or trade IOTA (MIOTA) now? Invest with eToro!
75% of retail investor accounts lose money when trading CFDs with this provider