IOTA Prepares To Breach $0.19: Are The Bulls In Action?

The crypto news today show us that IOTA has been reflecting the flat price movement ever since the previous month. However, as May began, IOTA prepares to breach and win new price areas. After recovering from its price crash of March, the coin is now showing stable movement.

If we look at the price trend of IOTA/USD right now and in 2020 overall, we can see that the coin has undergone huge fluctuations due to its immense volatility. As IOTA prepares to breach $0.19, analysts are looking at the 19, analysts are looking at the $0..
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20 levels as the next territory for potential profits.

All in all, the IOTA coin has started the ongoing year at a low of $0.1592 – but continued to trade with a bullish momentum and marked gradual hikes. On February 3, we saw how IOTA touched a high of $0.3817. At this high, the cryptocurrency could not manage and started trading downwards at a tremendous pace.

Around February 27, the IOTA news showed that the price targeted the $0.1966 levels after registering a huge fall of 47% from a high of $0.3817. This is why the bulls are not so strong right now and why analysts are still skeptical about the price of this token.

After the massive decline, the coin continued to trade downwards and reached a low of $0.0594 during the flash crash on March 13. Anyways, now IOTA prepares to gather momentum and has started recovering from the previous loss. We can also see that the currency marked a steady upside movement until the end of April.

After hitting the $0.18 mark at the end of April, IOTA prepares to breach new levels and target new areas this May. The coin managed to breach the $0.20 mark yesterday but again corrected to $0.185. Now, the price surge is in and the MACD indicator reflects that the coin may continue to trade with upside momentum in the near term.

Currently, the IOTA price is trading at $0.1850 and is stable. However, if it manages to persist the month-long upside trend line, it may also cross its resistance (the next one) which is at $0.2206 in the upcoming days.

Meanwhile, Bitcoin (BTC) is still the top coin to watch out for with a current price of $9,900 and a huge potential towards $10,000.