- Bullish IOST price prediction ranges from $0.039 to $0.081.
- The IOST price might also reach $0.1.
- IOST bearish market price prediction for 2021 is $0.009.
IOST stands for Internet of Service Token it is a self-possessed ultra-fast, fully-fledged and decentralized blockchain network and ecosystem with its own nodes, wallets and based on the next-generation consensus protocol. IOST’s blockchain network is open-source and designed to be secure and scalable. IOST is based on the Proof of Believability (PoB) consensus algorithm.
Current Market Status of IOST (IOST)
According to Coingecko, the price of IOST is $0.03121 with a 24-hour trading volume of $136,759,703 at the time of writing. However, IOST surged to 2.36% in the last 24 hours.
IOST (IOST) Price Prediction 2021
IOST (IOST) holds the 116th position on CoinGecko right now. IOST price prediction 2021 is explained below with a daily time frame.
The chart shows the Falling Wedge pattern. The falling wedge pattern occurs when the price is moving in an overall bullish trend before the price action corrects lower. This pattern begins wide at the top and contracts as prices move lower. A falling wedge pattern is designed by two converging trend lines when the stock’s price has been falling for a certain period. If a falling wedge appears during a downward shift of momentum in the market, it is considered a reversal pattern.
In the daily time frame chart, the IOST can reach $0.0918 if the bull trend continues. Or else, if the price of the IOST breaks the resistance level of $0.0332, it will fall to the next support level at $0.0015. So, the trend of the IOST is based on the breakout.
IOST (IOST) Support and Resistance Level
The below chart shows the support and resistance level of IOSTn (IOST).
From the above chart, it observed that the following are the resistance and support levels of IOST.
- Resistance Level 1 – $0.039
- Resistance Level 2 – $0.059
- Resistance Level 3 – $0.081
- Support Level 1 – $0.026
- Support Level 2 – $0.014
- Support Level 3 – $0.009
The chart shows the bullish performance of IOST over the previous month. However, this trend might continue to reach a resistance level at $0.081 soon. On the contrary, if the trend reversed then IOST might fall to $0.009 presenting a bearish signal.
IOST (IOST) Average Directional Index (ADX)
Let us now look at IOST’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.
The above chart represents the ADX of IOST lies in the range at 29.75, so it indicates a strong trend.
The IOST is one of the cryptos which is great for long-term investment. In addition, IOST price prediction is bullish for the short term. It has a good chance of reaching $0.081 by the end of this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the IOST ecosystem, the performance of IOST would rise reaching $0.081 very soon. But, it might also reach $0.1 if the investors believe that IOST is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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