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IOTA Price Continues to Fall and Hovers Around $0.023

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IOTA price has been quite impressive from the last couple of days. It has shown a lot of improvement in the price and even in terms of Market Cap. The future of the coin seems brighter than ever. Today, the coin is dealing with the downward movement. There are many coins in the market which open with losses. IOTA was also one of them. However, it has booked a recovery, but yet again dropped.

IOTA Price Analysis and Predictions

Yesterday, the coin opened at $0.24. The coin shifted from $0.240 to $0.241 by 0.37%. Later, the coin fell from $0.241 to $0.23 by

1.26%. In the second half of the day, the coin jumped from $0.23 to $0.24 by 2.22%. The coin managed to close the day at $24 with an intraday regression of 0.17%. Today, the coin opened with a drop of 1.30%. The price counters switched from $0.24 to $0.23. Further, the coin recovered. The price jumped from $0.236 to $0.239 by 1.26%.

IOTA price
IOTA Chart By TradingView

IOTA is anticipated to come out of the downfall soon. The coin has never failed the expectation of the investors and is likely to continue the tradition. The intraday movement might be disappointing for the coin, but the future is not. The coin would be good for the traders having a long-term prospect in mind. Following are the most probable resistance and support levels for IOTA:

R1: $0.242247, R2: $ 0.245594 and R3: $0.247821

S1: $0.236673, S2: $0.234446 and S3: $0.231099

Source.cryptonewsz.

IOTA

IOTA [MIOTA/USD] Price Analysis: Cryptocurrency’s Price Hold Looks Strong as Capital Inflow Increases

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MIOTA, the cryptocurrency based on the Internet of Things [IOT] has had a great start to the year with several developments being discussed in the pipeline.

The cryptocurrency market had returned to a stagnant price movement after a few days of bullish rises. A majority of the users have been expectant of another surge soon as the immediate support of most 0f the altcoins have been elevated.

MIOTA, the cryptocurrency based on the Internet of Things [IOT] has had a great start to the year with several developments being discussed in the pipeline. This ranged from landmark partnerships with major organizations to internal network updates. After having a very sombre 2019, the cryptocurrency was not at the 23rd position on the price charts.

At press time, MIOTA was trading for $0.235 with a total market cap of $654.55 million. After a 5.8 percent drop in the previous 24 hours, the cryptocurrency’s 24-hour market volume had dipped to $9.39 million.

1 hour:

IOTA 1 hour
Tradingview.com

The hourly chart has been consistent for MIOTA after a sustained hold between $0.23 and $0.26. The immediate support was at $0.228 while the immediate resistance held at $0.25. After the bullish rise on January 17, the price has maintained a steady path.

The Relative Strength Index had fallen below the oversold zone for the first time since the start of the year. This crash indicated that the selling pressure was much higher than the buying pressure. Some analysts claim that is is because of the stagnated price movement.

The Chaikin Money Flow indicator had risen slightly above the zero line. This came at a time when there was an increase int the overselling characteristics of MIOTA. The hold above the zero line meant that the capital coming into the MIOTA

market was much higher than the capital leaving the market.

The Parabolic SAR was above the price candles, a sign that MIOTA may be heading into bearish territory. The SAR markers have stayed up for the past 48 hours now.

1 day:

IOTA 1 day
Tradingview.com.

The daily chart projected a reprieve for MIOTA as the cryptocurrency was going up in value for the first time since October. The immediate support on the daily chart was $0.15 which was formed in mid-December.

The Chaikin Money Flow indicator was leaps and bounds above the zero line in the long term. Despite MIOTA’s low price hold last year, the community seems to have stuck with the cryptocurrency. The IOTA market has clearly been enjoying a higher influx of capital now than it had over the course of the past 6 months.

The Parabolic SAR was below the price candles in the long term. This means that the cryptocurrency could expect bullish gains soon. This has also been helped along by positive sentiment within the IOTA community.

The Relative Strength Index had fallen back into the graph after staying above the overbought zone. In the long term, more people were buying into MIOTA than those who were selling it. The graph might only shoot up again after the IOTA’s plans for 2020 comes to fruition.

Conclusion:

Although IOTA price at the moment looks bleak, the long term analysis showed a resurgent spark in the cryptocurrency. This also comes on the back of the much-hyped ‘altcoin surge’. Many people expect 2020 to be the year that a lot of assets other than BTC enter the limelight. IOTA with its multitude of updates lined up looks to be a solid contender to join that roster.

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IOTA Price Analysis: IOT/USD deals with a devastating 6% plunge

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  • IOTA price breaks triangle support as bears take over.
  • IOTA looks forward to bouncing off the immediate support at $0.2300.

IOTA has been dealing with choppy markets the entire week. Consolidation commenced following the failure to break the resistance at $0.255. The resistance has been impenetrable even though it has been tested on several accounts. IOTA also tried to sustain gains above the moving averages. However, the bulls have continued to increase their grip on the price.

IOTA’s 5.34% loss on the day is the largest followed by Ethereum Classic’s 5.83%. Meanwhile, the increasing selling activity during the European could be devastating for the community.

  • IOTA price breaks triangle support as bears take over.
  • IOTA looks forward to bouncing off the immediate support at $0.2300.

IOTA has been dealing with choppy markets the entire week. Consolidation commenced following the failure to break the resistance at $0.255. The resistance has been impenetrable even though it has been tested on several accounts. IOTA also tried to sustain gains above the moving averages. However, the bulls have continued to increase their grip on the price.

IOTA’s 5.34% loss on the day is the largest followed by Ethereum Classic’s 5.83%. Meanwhile, the increasing selling activity during the European could be devastating for the community.

  • IOTA price breaks triangle support as bears take over.
  • IOTA looks forward to bouncing off the immediate support at $0.2300.

IOTA has been

dealing with choppy markets the entire week. Consolidation commenced following the failure to break the resistance at $0.255. The resistance has been impenetrable even though it has been tested on several accounts. IOTA also tried to sustain gains above the moving averages. However, the bulls have continued to increase their grip on the price.

IOTA’s 5.34% loss on the day is the largest followed by Ethereum Classic’s 5.83%. Meanwhile, the increasing selling activity during the European could be devastating for the community.

The rising triangle support that had been offering support has been broken. IOTA price continues to spiral towards the tentative short term support at $0.2300. There is a huge chance that $0.2300 will not hold the losses. In that case, the next anchor rests with $0.22, $0.20 and $0.18.

Technical observation using the RSI and the MACD displays an extremely bearish picture. Further downside correction is expected in this session. However, as the crypto becomes oversold, the next sessions could see a reversal.

The rising triangle support that had been offering support has been broken. IOTA price continues to spiral towards the tentative short term support at $0.2300. There is a huge chance that $0.2300 will not hold the losses. In that case, the next anchor rests with $0.22, $0.20 and $0.18.

Technical observation using the RSI and the MACD displays an extremely bearish picture. Further downside correction is expected in this session. However, as the crypto becomes oversold, the next sessions could see a reversal.

IOT/USD 1-hour chart

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IOTA’s newly updated Coordicide whitepaper validates previous research

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IOTA announced the release of the updated version of their Coordicide Whitepaper. According to the company’s blog post, the newly released whitepaper contains revised and updated content that has already been published in the past year and will be used to validate the initial work put in by the company.

Coordicide whitepaper done after a year of research

IOTA, the ambitious blockchain project set out to revolutionize IoT economy, has just announced the release of the updated version of the Coordicide Whitepaper. According to the company’s official blog post, while the first compiled version of the Whitepaper was released back in May 2019, the newly released version is a product of over a year of research.

The document’s core, however, remains unchanged. The company explained that almost all of the “revised and updated content” that has made its way into the whitepaper has already been published throughout the past year. IOTA and the IOTA community, through forum discussions on IOTA.cafe, have both participated in refining the original Coordicide research.

“Nevertheless, it is necessary to compile all of these components into a single “state-of-the-art” document, so that our solution may receive the scrutiny it deserves from our academic, corporate, and community collaborators,” the company said in its blog post.

Apart from that, the paper will be

extensively used by the company in-house, in order to review their own internal process of moving from theory to specification to code.

The Coordicide research grant program seems to have paid off

The generous grant IOTA established last year seems to have paid out. Back in August 2019, the company announced a $5 million grant program to contribute to “Coordicide”-related research. The first push towards Coordicide, an upgrade that removed the network’s centralized coordinating node, was announced in May the same year.

Unlike other major cryptocurrencies, which use a blockchain-based structure for their network, IOTA uses a technology called a directed acyclic graph (DAG). DAGs allow multiple chains of transactions to co-exist and interconnect, which makes the network highly scalable.

However, DAGs themselves also present serious challenges regarding security and decentralization, which are problems both Coordicide and Coordinator set out to solve.

The interconnectedness of the IOTA network depends on one transaction validating two previous ones before being able to validate itself. The Coordinator’s job is to ensure that transactions don’t contradict previous transactions which could lead to double spending and accessing non-existent funds.

Coordicide will effectively remove the Coordinator, which will be a momentous step towards realizing IOTA’s promise as the first decentralized and scalable DLT, the company said.

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