IOTA has enjoyed a parabolic move this week, pumping 99% and currently priced at $0.3474. Earlier today, it briefly surpassed the $0.35 mark, its highest price since May 2022.
Meanwhile, traders have begun shifting their focus to Bitcoin Minetrix as its presale gathers momentum, recently surpassing $4.7 million.
IOTA Backed to Reach $2 After It Breaks Macro Downtrend
IOTA is poised for tremendous gains after breaking a long-term downtrend, according to X analyst CapitalTA.
The analyst noted that IOTA’s recent pumps have created a descending channel breakout, coinciding with its range support. These two factors indicate a strong reversal is imminent, with CapitalTA projecting a pump to $2.
The analyst noted that IOTA is “Forming a “W” pattern to target over 2.00 in the medium term.”
Meanwhile, CapitalTA also provided a short-term prediction that IOTA will reach between $0.6 and $1.2 after its recent pump caused a break above a trend line resistance.
IOTA’s recent pump has also caught the eye of other prominent analysts. X user Moon recently urged its followers to “FOMO in” to IOTA at its current price.
The analyst referenced that it’s a highly scalable Ethereum alternative with cutting-edge tokenomics, which rewards people for simply holding IOTA coins. Furthermore, Moon suggests its “DAG tangle” architecture presents massive price potential.
One interesting thing to note here is the recent meteoric rise of the DAG blockchain, Kaspa, widely touted as a blockchain of the future.
This could indicate a growing narrative where highly scalable DAG blockchains gain traction.
Lastly, trader Senfda Tzu noted that IOTA is moving toward breaking a falling wedge against Bitcoin. A falling wedge is a bullish pattern where the price falls, but volatility is closing, indicating a potential reversal.
Given that Bitcoin is also pumping, Senfda Tzu suggests that this could create a “price explosion” for IOTA.
Those looking for another high-potential coin should consider Bitcoin Minetrix, a revolutionary crypto mining solution currently in its presale.
Stake-to-Mine Bitcoin Minetrix Surges Toward $4.7M With Investors Drawn to Effortless Bitcoin Rewards
Bitcoin Minetrix is a compelling cryptocurrency that enables users to mine Bitcoin on Ethereum. It works by users staking $BTCMTX tokens for Bitcoin mining credits, which they can burn for cloud mining power.
This concept creates an accessible and convenient way for anyone to mine Bitcoin, free of the traditional barriers like hardware, technical expertise, and overhead costs.
The project uses cloud mining to facilitate the operation, while its decentralized and transparent $BTCMTX token eradicates the previous security risks.
The project is currently in its presale, having raised over $4.7 million in two months. Its notable success results from the backing of top industry analysts and media outlets.
Prominent presale-focused YouTuber Jacob Bury recently branded it as a “10x potential presale,” highlighting how it will improve the Bitcoin mining user experience.
However, others are even more bullish. For instance, No Bs Crypto speculates it could 100x after its IEO.
Meanwhile, crypto media powerhouses like Business Insider, Cointelegraph, Crypto News, and Bitcoin Magazine have also featured the project. This illustrates Bitcoin Minetrix’s legitimacy and ability to garner significant hype.
Investors can buy into the $BTCMTX presale for $0.012, but they must hurry because its price will rise in three days.
