- The price fell below 0.300 USD, now rising again.
- IOTA as a Trust Anchor in the NEDO Project.
- The volume gained 23.41% in just 24 hrs.
IOTA is a distributed ledger with one big difference, it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. In time IOTA’s goal is to become the De facto platform for executing transactions between IoT devices. IOTA has distinguished itself from many other crypto rivals by establishing high-profile partnerships with the carmaker Volkswagen, and helping the city of Taipei to pursue smart projects.
After falling below the $0.300 mark it was very difficult for IOTA to reverse the trend, but somehow it managed to attract bulls and escape the descending triangle. However the graph for a shorter time period has started showing an uptrend. The price for one IOTA stands at $0.393 with a gain of 11.56% in its market capitalization in the last 24 hrs.
While it has a volume of 4.3 million with a gain of 23.41% over the intraday trading session and a market cap of 1.09 billion which is also at a gain of 11.56%. The volume market cap ratio has a value of 0.04007. The IOTA/BTC pair stands at a value of 0.00001292 with a gain of 8.61% in it. The price made a lower low of $0.343 in the last intraday trading session.
While looking at the relative strength index it was at oversold for around 7 days! This might be a reason that bulls are back to buy the dip.
While analyzing the graph for short-term (4 hrs) we can observe a bullish movement and the indicators are indicating the same uptrend further too. While observing MACD we can see the MACD line made a positive cross over the MACD signal line, the gap between the two is increasing and the histograms are also rising up, so the chances of bearish movement are quite low. The value for relative strength index is above 60 and still rising, which is also indicating the same (uptrend).
IOTA as a Trust Anchor in the NEDO Project
A research project sponsored by Japan’s largest public management organization NEDO (The New Energy and Industrial Technology Development Organization) and involving several Japanese organizations has demonstrated the feasibility of IOTA as an infrastructure for securing critical industrial data
Conclusion
IOTA price broke the land, but now finally the IOTA bulls are back to support the crashing ecosystem and the trend reversal has begun.
Technical levels
Resistance: $0.500 and $0.600.
Support: $0.300 and $0.200.
Source: https://www.thecoinrepublic.com/2022/05/20/iota-price-analysis-iota-as-a-trust-anchor/