Analysis of IOTA market sentiment, Bitcoin & Ethereum 19 - 20 June: Bullish sentiment prevalent in market
IOTA market sentiment analysis - Market sentiment is one of the best ways to determine the overall direction the market takes. That's because it gives you an idea of what investors think about the market at a particular point in time.
On this basis, let through the IOTA (MIOTA), Ethereum, and Bitcoin sentiments, to get a clearer picture of what will happen in the coming week.
Bitcoin (BTC)
Bitcoin is the market leader in crypto, and its direction is pretty much direction for the whole market. Looking at Bitcoin's sentiments in various forums over the last 24 hours, about 74% of investors are positive about it.
That is an indicator that most investors expect bitcoin to perform well in the coming days. This sentiment is mainly driven by the fact that bitcoin has dropped significantly in the past week, and most investors are taking advantage of this lows to make a purchase entry.
For someone who wants to buy bitcoin, this is the best time to pay attention to support levels. If support persists, buying entries can produce good results within the next 24 hours, driven by increased buying pressure.
IOTA (MIOTA)
In the last 24 hours, IOTA (MIOTA) has had about 21 mentions in the main crypto forum. Of these, 81% of them are positive. That is an indicator that more and more bullish investors in IOTA (MIOTA) are currently compared with bitcoins.
From a fundamental point of view, this may have been driven by a partnership last week with Volkswagen, even as the market slumped. The partnership came just days after the IOTA team released details of the Qubic project, the IOTA (MIOTA smart contract platform), so investors expect IOTA (MIOTA) to lead the recovery this week, now last week's market decline appears to have eased.
It is also driven by the fact that the IOTA (MIOTA) lost a good share of its value last week, and investors operate on the assumption that if it breaks downwards, this crypto can offer a higher return way that is mostly the rest of the market.In order to invest in IOTA (MIOTA) within the next 24 hours, it is best to look out for volume. If buying volume goes up, it will be the perfect setting for long-in.
Ethereum (ETH)
Sentiment around Ethereum (ETH) in the last 24 hours is mostly positive, with 73% positive statements in different online forums. That is an indicator that investors expect Ethereum to perform well this week.
Ethereum positive sentiment is mainly driven by technical analysis. In the last 24 hours, Ethereum (ETH) has broken above the psychological limit of $ 500 twice. Investors expect to maintain above this price level for at least 24 hours.
For someone who wants to invest in Ethereum in the next 24 hours, this looks like a good time to buy. The only thing you need to pay attention to is volume. If the volume increases, it is likely Ethereum will stay above $ 500 throughout the week.