- IOST Coin price is currently stuck inside a consolidated zone and may breakout to a lower level in the future. The asset has seen a dip of more than 5% in the intraday session.
- Technical indicators of IOST suggest a strong downside trend for the price in the future. Meanwhile, IOST/BTC pair has seen a loss of more than 3.6%
Why Invest In IOST Coin?
IOST coin is currently struggling to maintain its breakout and may soon see a downside trend in the future. IOST price is currently standing still near the level of $0.03 with a loss of more than 5% in the past 24 hours. They describe themselves as an “ultra-fast,” fully-fledged, and decentralized blockchain network. They also have an ecosystem with its own nodes, wallets and are based on the “next-generation” consensus protocol which has been called “proof-of-believability.” The project was incepted in January 2018 by Jimmy Zhong, Terrence Wang, and various other people. The blockchain infrastructure is open-source and designed to be secure and scalable with the hope that it will serve as the backbone for online services in the future.
IOST token is currently ranked 131st in the CMC with a market dominance of more than 0.1%. The volume of the token has seen a loss and may soon see a strong recovery. The volume to market cap ratio of the IOST hints towards a consolidated trend in the price for the future.
Technical Indicators Of IOST Coin Price Suggests A Consolidated Trend
IOST coin price weekly technical chart hints towards a consolidated trend in price and may soon hit the next support. On coming to the daily chart, the asset price is hovering close to its crucial support levels. IOST while moving upwards may face a setback near $0.06. Meanwhile, the bounceback in the coin can be expected around $0.01. If the asset price continues to fall to a lower level then a new low in the future can be seen. IOST/BTC pair can see similar gains in the future. One can forecast huge growth in the IOST in the future.
Conclusion
IOST coin price is currently moving in a consolidated range and can soon see a breakout to a new high in the future. IOST/BTC pair can also observe the same movement in the future.
Technical Levels
Major Support:$0.01
Major Resistance: $0.06
Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.