IOST Price Prediction 2021 – Will IOST Hit $0.2 Soon?

This IOST (IOST) 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 IOST price analysis and prediction.

This IOST 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 IOST  price analysis and prediction.

Among the cryptocurrencies that are rallying this year, IOST is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, IOST has been around since 2018.

Can IOST reach $0.2 in 2021? We will find out shortly. But before we proceed to our IOST analysis, let us first answer the question “What is IOST?” in this IOST prediction 2021 article.

What is IOST?

IOST’s blockchain platform is open-source and developed to be secure and scalable, and serve as the backbone for online services in the future. Moreover, the team has developed a proof-of believability consensus algorithm to make sure that the transactions on the network are efficient and secured.

More so, one of the biggest challenges that IOST focus to resolve centers on how huge the companies may not be able to embrace blockchains in a customer-facing place unless they are scalable. The Internet of Services Token is put forward as a path to tackle this issue.

Now that we have an idea about IOST, do you think IOST will be profitable crypto in 2021? Join me and let us see the charts in this IOST price analysis and IOST price prediction.

IOST Current Market Status

As of the time of writing this IOST price analysis, IOST trades at $0.02218 with a 24-hour trading volume of $111,540,187. The price of IOST has decreased by 7.08% in the last 24 hours.

Furthermore, IOST has a current circulating supply of 16.45B IOST. Currently, the top cryptocurrency exchanges for IOST are Binance, Huobi Global, OKEx, BitZ, and Upbit.

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

IOST Price Analysis 2021

Currently, IOST holds 116th place on CoinGecko. But will the latest upgrades, development, and changes in the IOST blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this IOST price prediction article.

In the daily timeframe chart shown above, we could see the Ascending Channel pattern. An ascending channel is the price action that takes place in an upward direction through a slanting parallel line. Also, the chart displays the Higher Highs and Higher Lows from this price pattern. More so, this pattern represents a short-term bearish.

As shown above, at the beginning of this month, IOST turned from its bear to bull trend. This is the result of the high trade volume that occurs during that time.

The Relative Strength Index (RSI) is above 44.29, which means that IOST is in a nearly oversold state. However, the traders could see huge price reversal. Hence, traders need to be aware and shift away from unexpected losses that occur 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 IOST.

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

IOST Price Prediction 2021

The chart below shows that IOST has shown bullish performance over the past few days. If this trend continues, IOST might run along with the bulls, overtaking its resistance level at $0.156 and surge even more.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone crypto to its support level at $0.013, a bearish signal.

Meanwhile, our long-term IOST price prediction 2021 is bullish. It has a high possibility of surging over its current all-time-high (ATH) at about $0.1365 this year. However, that will only take place if it breaks many past psychological resistances.

Conclusion

IOST has a bright future ahead of it in 2021. With the ongoing developments happening within the IOST ecosystem, as well as in the overall crypto market, we may see IOST reach new heights. Bullish IOST price prediction 2021 is $0.156. Added to this, it may even reach $0.2 if investors have decided that IOST is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/iost-price-prediction-2021/