It is no secret that IOTA has been expanding its reach recently. The crypto has been doing this by increasing its partnerships with top tech companies. Now according to a recent report, the network has benefited greatly from the recent partnerships it has entered. These collaborations have proven to act in the best interests of the network. It has helped to steady the price of IOTA.
IOTA’s partnership with clothing line Avery Dennison has helped the price of IOTA gain 52% in the last seven days. This is an impressive feat for a cryptocurrency that has been largely underrated. What is IOTA price prediction for the long and short term?
IOTA (MIOTA) Price Today – MIOTA / USD
IOTA Price Prediction: Agreement With Avery Dennison Is to Produce Sustainable Goods
IOTA’s agreement with Avery Dennison is designed to produce sustainable goods. It was initially tested with the ALYX brand. This allowed consumers to successfully track their products real-time via the supply chain. It is now ensuring that the production of goods are as transparent as possible with Blockchain technology.
The price of IOTA is $0.3973 with a total market capitalization of $1.1 billion. These stats place IOTA as the number 15 best digital asset overall. After IOTA’s partnership with Avery Dennison, the price of IOTA recorded a six-month high at $0.4375. It escalated from $0.2708 to $0.4375. Although the price of IOTA has come down because of Bitcoin’s recent price pull that forced the crypto market to tread low, the digital asset seems to be performing better. There hasn’t been any drastic fall in prices so far.
IOTA Price Prediction: The Bulls Have Returned for the Price of IOTA in Long-term Forecast
A similar partnership with that of IOTA and Avery Dennison is seen with the digital asset’s network partnership with Jaguar and the French Agtech startup known as OKP4 in a bid to store and share data with IOTA tokens as reward. The 52% increase in the price of IOTA can be attributed to all these partnerships when accumulated overtime will show the gross result. The price of IOTA is bullish for today’s price forecast.
For the long-term outlook of the price of IOTA, the digital asset is predicted to be bullish. The bears’ continued failure to push the price of IOTA further below the 38.2 Fibonacci retracement position on May 13 resulted in exhaustion. Eventually, it was denoted to $0.3523, by wick in the candle at in the demand position. The two EMAs were also broken with a larger candle an indication of the reversal of a bullish sentiment.
IOTA Price Prediction: The Price of IOTA Retested $0.4677 on Friday
The pressure on the price of IOTA was sustained after it completed a remarkable retest of the $0.4677 position in the supply region this Friday. The cryptocurrency was in this particular area six months back. That was precisely on November 13 of 2018.
The price of IOTA has ended the week with a low of $0.3483 which is a minor pullback by the bears to the 10-EMA. This was actually a correction to the initial impulsive bullish price movement and the confirmation of an uptrend continuation for the long-term price of MIOTA.
The two EMAs have fanned apart which is an indication of strength in the pattern of the price of IOTA at $0.4591. This is currently in the supply area because the week started with a bullish sentiment.