IOTA (MIOTA), along with other digital currencies in the crypto market have taken a beaten over the last couple of weeks as values dropped by over 25 percent. A lot of digital currencies are still deep in the red, and only just a few are showing signs of a little comeback.
IOTA is one of those digital currencies that are still deep in the red, as it has lost a significant fraction of its value in the last thirty days.
IOTA Price Today: Current Price of MIOTA
At the moment, IOTA (MIOTA) is trading at $1.28 after losing over 1.5 percent of its value in the last twenty-four hours and losing 37 percent from its value of $2.04 thirty days ago. The digital currency is ranked 9th with a market cap of $3.55 billion and a trading volume of 83.8 million in the past twenty-four hours.
The Long-Term Trend of IOTA/USD
Over the long-term, it is obvious that the digital currency has been suffering against the US dollar. The digital currency began the year with its value at $3.53 and it has been correcting lower ever since.
In the month of November and December last year, the digital coin saw an incredible bullish trend that increased its value from the low of 32 cents to the high of $6.4, which is over 1800 percent increase. Nevertheless, as the new year began, the bulls were nowhere to be found.
For the majority of the year, the digital currency has been trading in a broad range marked by the 0.618 Fib retracement level at $2.66 and the 0.886 Fib retracement level marked by $1.02. For the market to be seen as a long-term bullish market, it needs to break over the $2.66 mark. For it to be considered a long-term bearish market, then a break beneath the $1.02 level will cause that to happen.