IOTA [MIOTA] trades in green with mild recovery: Technical Analysis
As the bulls attempt to gradually settle in the crypto market space, the major altcoins show minor upsurge with IOTA trading in green. The 12th most valuable digital currency is currently encountering buyer pressure that pushes the coin to trade in bullish zone, however, with a minor spike in percentage gain. The coin has performed moderately in the previous phase as IOTA has lost almost 3% in the last seven days and slid around 1% in a duration of a month.
The MACD, at the time of writing, suggests that the cryptocurrency is trading well with a bullish momentum. The digital currency is exhibiting uptrend in the crypto market space, as evidenced by 100 EMA line. The resistance level of the digital asset is traced at $0.305 and at the time of writing, the coin has breached the level to trade above it.
The hourly RSI indicator is traced at 54.3, which implies that MIOTA is facing relatively high buying pressure in the market. The total market cap of the virtual currency stands at $867.28 million, as per the data from CoinMarketCap. At the moment, the virtual asset has edged up almost 2.51% against the U.S. dollar to trade at $0.31203.
At press time, the cryptocurrency has spiked almost 2.04% against Bitcoin [BTC] with one MIOTA worth around 0.0000856 BTC.
IOTA [MIOTA] Latest Updates
- As the year rolled out, the IOTA Foundation entered into a partnership with Crypto Storage AG for storage solution and revamping IOTA Qubic team. In the former venture, the partnership offers first institutional grade based IOTA token storage solution across the globe for ensuring greater security for users and partners of IOTA ‘‘through separate infrastructures and definable approval processes.” Also, the newly developed crypto storage solution seeks to cater to the demands of the financial intermediaries. With this fresh association, all the public, private, institutional investors and the beneficiaries are now free to access the IOTA tokens with utmost security.
Image via Shutterstock