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IOTA crypto continues to print higher lows and is now up by over 3.5% in the last 24 hours. Technical indicators also suggest that IOTA might soon be making headway back up to the $0.30 price levels.
Will IOTA begin to pump again soon?
For the last 150 days IOTA has been trading within a consolidation pattern ranging between price of $0.387 and $0.232.
If the blockchain markets flip bullish later this October, there is a good chance we could see IOTA attempt to retest the next resistance level of $0.34 and perhaps then secure the next technical target of $0.45.
The current prices we see today for IOTA have also been reflected in the past during the 2018-2020 bear markets, which leaves us questioning whether IOTA is now undervalued?
Buying IOTA in March 2020 during the Covid-19 crash would have offered investors up to 5,000% gains if held to the top of the bull run in 2021.
From a technical analysis perspective IOTA is looking rather bearish but current price levels could potentially lead to strong gains by the next crypto bull run if history does decide to repeat itself.
IOTA has been trading in this particular channel for over 150 days since the Terra Luna crash in May.
The bullish scenario is that IOTA recovers backup to $0.34 and then continues to pump up to $0.45. This particular impulse wave would see a price increase of roughly 74.33%.
It is hard to determine what could happen for the crypto markets over the next few weeks, but if IOTA is able to consolidate further throughout October there is a good chance of breaking out to the upside.
$0.249 acts as a key level of support which is vital not to be lost or we could see IOTA potentially drop down to $0.23 or below. This would be a new local low for this particular market cycle and be devastating for long term holders.
IOTA is one of the more sustainable crypto choices the blockchain markets have to offer but a new contender has arrived known as IMPT Token.
The IMPT platform provides an imapctful carbon offset program where you as a potential investor can contribute to an ecosystem that connects socially responsible brands with businesses and individuals who want to reduce their carbon footprint.
Whilst IOTA still has potential to pump beyond 10x and has achieved fantastic milestones, you might have to wait until the next crypto bull run in 2024-2025 to realise such returns.
IMPT Token is currently in presale and has already raised a tremendous $3,670,217 in just over a week. There is a good chance that it will launch for public sale in Q1 2023 and holders are anticipating huge upside potential of up to 50x returns.
If you are finding yourself feeling rather bored from the current state of play from the crypto markets, IMPT Token could shed some light on your portfolio and be the next coin to explode this bear market.
Interested parties can head over to the official impt.io website to research the white paper and secure IMPT Tokens today before sell out.
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