The digital currency market plunged last weekend after the news of hacking Coinrail – a small digital currency trading platform in South Korean, according to top-tier media. The reactions to the news appear to be over exaggerated because the twenty-four hours trading volume of the exchange is just about $2.65 million.
The hackers stole tokens worth about $40,000,000, and the panic selling wiped off over $41 billion in the total market cap of the digital currency over the weekend. In the crypto market, every little news steers panic among traders. This panic affected most digital currencies, and MIOTA is also affected. MIOTA has experienced a drastic decline in its value in the last couple of weeks, at the moment, the coin has broken below its previous support level at $1.33.
IOTA Price Today: Current Price of MIOTA
At the time of writing, the trading price of MIOTA is $1.25 after a decrease of 1.8 percent in the last twenty-four hours and a decrease of 27.2 percent in the past seven days. The digital currency is currently at the number 9th spot on the list of leading digital currencies with a market cap of $3.47 billion, and the total trading volume of the coin in the last twenty-four hours is $95.28 million.
IOTA Technical Price Analysis
On the 11th of June, the bulls were able to hold the $1.33 support level for just one day. After which, the digital currency continued its downward movements. The digital currency broke the support level of $1.33 and it is now heading to sink to the key support level at $0.915.
Based on the chart of the coin, strong buys are expected near the bottom of the probable range. Nevertheless, it is suggested that buyers should wait until the value of IOTA stops its downward movement because if the bear break beneath the $0.915 mark, the fall can extend to the $0.666 marks.