The cryptocurrency market looks green as it exhibits steady growth in prices as well as market capitalizations. There were big surges in Bitcoin [BTC], Ripple [XRP], Ethereum [ETH] and the other cryptocurrencies as well. All of the main cryptocurrencies have reached important resistance levels. There is a selling interest with coins looking to consolidate the gains and the traders are in fear of becoming the last ones to buy before a correction.
With a 2.75% gain in the last 24 hours, Ethereum is just 4 dollars away from breaking the $650 level. The total market capitalization has retained the gain and at 2:20 PM UTC was seen to be at $400.348 billion. Bitcoin Cash [BCH], however, had a loss of 1.40% in the last 24 hours and the price has come down to $1400.44.
Our sentiment analysis segment provides crypto-related sentiments of people from around the world and they are recorded as it is. The expert opinions of people from around the world are about the current market trends and possible outcomes of the coins. For this purpose, a group of analysts, investors, skeptics, miners, influencers were interviewed and their valuable comments are recorded in this segment which gives our readers a wholesome picture. This analysis is focused on IOTA [MIOTA] which is currently at the 9th spot in the rankings.
At 2:30 PM UTC, IOTA was seen to be trading at $2.13 with a market capitalization of $5.925 billion. The 24-hour volume of the coin is $99.509 million at the time of writing. The coin gained by 2.74% in the last 24 hours and it has not dropped below the $2 mark in the last 24 hours.
The coin peaked at an intraday high of $2.18 at 2:29 AM UTC today which is the highest since February this year. IOTA’s gain can be attributed to Hannover Messe events when the coin had reached $2.15 yesterday. With the Tangle demonstrating that it can actually improve scalability, the coin seems to have a bright future.
Fredrick Peterson, a physicist from Adelaide says:
“The 30/50 EMA is about to converge and once this happens, a bullish breakout can be expected which will take the coin above $3 mark. But I the coin follows the same repetitive pattern it has been following till now, the chances are that the bears will break the support and the prices may come down.”
Mark Showalter, an altcoin miner from Pittsburgh says:
“There is a major bullish momentum waiting to kick in and now looks like the right time to buy the coin. Right now it is seen to be consolidating the gain and the indicators do not show a major reversal in the short term. The MACD is proceeding in a linear fashion and it goes up, we can expect something big to happen.”
Elaine Cox, an IOTA respondent from Turin says:
“IOTA’s community is very constructive. The technology is built in a way that it builds a camaraderie. As the community gets bigger from adoption gets stronger.”
To conclude, 62% of IOTA respondents feel bullish as they are of the opinion that since IOTA was seen to be gaining while most of the major coins were consolidating, it has a bright future. Another 38% of IOTA respondents, however, feel bearish as they feel that the coin has been strictly undervalued for a long time now.