IOTA is Likely to Continue Down after a Break
IOTA (IOT) plummeted by 10.0% to $0.1710 this week, slightly recovering from a 22.0% slump to $0.1480 earlier today, marking the lowest price since October 24, 2023. This sharp decline may indicate a shift in the trend to the downside, with prices nearing the crucial support at $0.1000. If IOTA falls below this critical level, panic selling could drive prices even lower.
A timely support came from the SEC, which officially closed its investigation against Ethereum 2.0, declaring that ETH is not a security. However, this positive news for the broader crypto market is not enough to reverse the downward trajectory of IOTA. The token continues to slide towards $0.1000, and without a significant improvement in market sentiment, it may breach this crucial support and continue its decline.
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