- Bullish IOST price prediction 2021 is $0.1 to $0.25
- Bearish IOST price prediction 2021 is $0.02
After months of seemingly-endless FUDs, the crypto market is back at full swing. Major cryptocurrencies have seen significant games over the last few days, with trading volumes indicating that people are starting to trade aggressively once again. Will this affect the price of altcoins such as IOST in 2021? We’ll find out shortly in this IOST price prediction 2021.
But before we proceed to our IOST price forecast, let us first have a little background on the cryptocurrency and perhaps pick up some fundamental information for us to invest wisely.
IOST Overview at the Time of Writing
What is IOST?
IOST describes itself as a decentralized blockchain network that uses a unique consensus algorithm called Proof of Believability (PoB). For crypto nerds out there, this is a Byzantine consensus protocol that features a “Believable-First” approach.
The IOST project began in early 2018, founded by Jimmy Zhong, Justin Li, Ray Xiao, Terrence Wang, Kevin Tan, and Sa Wang. They are headquartered in Singapore, although the team has other activities outside of the country.
At the moment, IOST focuses on developing decentralized applications (DApps). It has a scalable blockchain that is dubbed superior to some favorites such as Ethereum and EOS.
Recently, IOST engaged the Japanese crypto sphere. In fact, one of its nodes is the NFT marketplace of Rizin Fighting Federation. IOST is also part of the Japan Blockchain Association.
IOST’s native coin is widely available for trading on major cryptocurrency exchanges like Binance, Crypto.com, OKEx, Huobi, and more.
Now that we have some background about what is IOST, let us proceed to our IOST price forecast. Will IOST price become like Shiba Inu, which recently pumped 230% to become the 14th highest cryptocurrency in terms of market capitalization? Let us find out in this IOST price prediction 2021.
IOST Price Prediction 2021
October is known in the crypto space as the opposite of what happens in September. This is why people call it “UPtober”. In fact, after multiple dips in September, the crypto market is now witnessing huge reversals. Bitcoin is back to $50,000, while Ethereum is at $3,500. Will IOST price pump starting October as well? Let’s head to the charts in this IOST price prediction 2021.
IOST/USDT 1-day chart (source: TradingView)
As seen on the chart above, IOST price is displaying a couple of patterns and indicators that traders consider as bullish. The 50-day Simple Moving Average (SMA) broke above the 200-day SMA, which resulted in a Golden Cross, a highly bullish sign. This means that the crypto’s performance in the last 50 days has convincingly exceeded its 200-day price average.
Meanwhile, the chart showed a Descending Triangle Pattern, which can either be bullish or bearish. Regardless of whether the price goes down or up, the triangle pattern suggests that the current IOST price action will have a reversal.
With its recent highest peak of $0.0865, IOST price still has a long way to go before it surpasses its all-time high (ATH) price of $0.129, according to CoinGecko.
IOST increasing support (source: TradingView)
Since July, we have also seen IOST increase its support level. This shows that so far, IOST price has been performing well. Particularly in September, IOST was able to rise despite multiple dips in the price of many cryptocurrencies.
If the bulls prove dominant in the next two months, we can expect the IOST price to reach $0.1 at least. In fact, if the rest of the crypto market pumps soon, the IOST price can even exceed its ATH and hit at least $0.25. However, with the current trading volume and price action, that amount is a long shot.
On the other hand, if the bears awaken before the bulls rally all the support they can get, the IOST price may go down. As stated in the previous chart, IOST saw a Descending Triangle, which is a sign that the price action will have a reversal, for better or for worse.
That said, bearish IOST price prediction 2021 is $0.02. This is based on the new-found support of IOST in the earlier parts of this year.
Meanwhile, bullish IOST price prediction 2021 is from $0.1 to $0.25.
Market Prediction for IOST Price 2021
Digitalcoin is a platform that focuses on cryptocurrency price data and prediction. According to the website, IOST price prediction 2021 is $0.0773.
TradingBeasts offers a price range for cryptocurrency price predictions. In their IOST price forecast 2021, the website cited a maximum price of $0.0858 and a minimum of $0.0583.
Wallet Investor provides price predictions backed by comprehensive metrics. According to the website, IOST price action is currently bearish. However, in one year, IOST price may reach $0.09.
IOST Frequently-Asked Questions (FAQs)
IOST is a decentralized blockchain network that provides DApp and DeFi functionality.
IOST can be staked on different cryptocurrency wallets as well as exchanges. It is currently available for staking on platforms such as Huobi, Moonstake Wallet, iWallet, and more.
Based on our IOST price prediction 2021, IOST is a good investment. However, it has to continue gaining support for the bulls to outperform the bears. Nevertheless, make sure to do your own research and invest only what you can afford to lose.
Disclaimer: The technical analysis and opinions expressed in this article do not necessarily reflect the views of CryptoNewsLand (CNL). Readers of this article should not take this as financial advice. CNL strongly recommends that all users do their own in-depth research before investing in cryptocurrency.
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