Earlier today, a crypto analyst named Captain Faibik announced that in the near future IOTA (MIOTA) took to Twitter to share his belief in the potential for a significant price increase. The analyst emphasized that IOTA has been trading within a rising Falling Wedge Pattern on its weekly chart for a significant period of time.
In addition, the analyst revealed his optimism about the possibility of IOTA finally breaking out of this formation. In case of an upside break, he predicted a significant 200% to 250% rally for IOTA price in the medium term.
CoinMarketCap is trading in the green towards the end of IOTA’s weekend. cryptocurrency He said it was one of his units.
Altcoins, is worth around $0.194 after experiencing a price increase of 3.76% in the last 24 hours. As a result, the crypto is trading close to its daily high of $0.1966.
IOTA’s price surge has strengthened against both market leaders Bitcoin (BTC) and Ethereum (ETH) over the past day. IOTA is up nearly 2.55% against BTC and 1.99% against ETH. In addition, IOTA’s positive performance pushed its weekly performance further to the green at 5.65%.
On the other hand, the altcoin’s 24-hour trading volume is down more than 15% and remains at $9,683,276. Its market cap of $539,399,542 ranks it as the 75th largest crypto by market cap.
You can follow the current market movements here.