The past week was very eventful for MIOTA. Though the coin climbed to be the 4th largest coin with a couple of insane weeks, this week it was knocked down to 6th position by the soaring Litecoin and Ripple. Still, MIOTA holds above $10.6 billion in market cap but the trading volume of last 24 hours with $648 million is much less than its peak around 10 days before.
- After a few soaring weeks, this week MIOTA was struggling to stabilize
- Though the coin touched $5-mark couple of times, it was immediately pushed by the resistance there
- IOT/BTC depreciated 32 percent weekly and currently trading around 0.000232 BTC
For MIOTA, the week started with an upward move and MIOTA regained $5.1 from $3.6 in around 24 hours. But the peak resistance pushed the IOT/USD down until $3.6 acted as a pivot again. This time the pair faced another resistance level at $4.3.
With a support at $4.0, the token tested the resistance level multiple times and ultimately breached it with a buying rage until the token reached $5 and faced the peak resistance again. This time pushed the price down and also initiated a bearish run.
In the daily chart, the token found support at $3.3 and trying to recover the price. Currently, the pair is on the rise again and trading around $4.1.
Against Bitcoin, MIOTA’s value dropped substantially this week. The pair depreciated by 32 percent as the value went down from 0.000325 BTC to 0.000232 BTC.Trade on IOT/USD