IOTA Technical Analysis: Uptrend Gains Momentum To Reach $1

The IOTA coin price shows a bullish jump as the price grows to reach the psychological barrier at $1. Will buyers overcome the supply at $1? IOTA is an open ledger distributed with one major difference in that it’s not an actual blockchain. Instead, its own technology is referred to as Tangle, which is a system of nodes that verify transactions. The platform’s core claims that it offers much faster speed than traditional blockchains and is a perfect place to establish a footprint for the rapidly expanding Internet of Things ecosystem. The IOTA team behind IOTA believes that the possibilities for applications don’t stop here. They believe that their distributed ledger will provide digital identities to all people, which could result in car insurance policies built on actual use and open the way to advanced smart cities, provide seamless global trade and verify the legitimacy of products. Let us move ahead to read about IOTA technical analysis. Past Performance of IOTA The IOTA coin price action shows a sharp bullish recovery as it breaks above the $0.81 barrier in the daily chart. The coin price grows by 8.72% in the past 24 hours and continues the uptrend to reach the $1 mark. The token exchanges hand beneath all the crucial EMAs reflecting an overall downtrend in action. IOTA/USD Daily Chart IOTA Technical Analysis The IOTA coin price action found huge demand with the breakout of $0.801 mark as it creates a huge bullish engul...