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 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
IOTA price analysis: MIOTA/USD bullish after symmetrical triangle breakout
- IOTA’s consolidation above the support at $0.2350 gives way for a breakout above $0.24 resistance.
- The present positive technical indicators suggest IOTA is likely to correct towards 0.25.
IOTA has defied the broad-based bear pressure to post a subtle 1.3% increase in value on the day. Prior to the impressive correction on Monday, IOTA was consolidating above the short-term support at $0.2350. The initial recovery from the recent low at $0.2268 failed to break the resistance $0.25.
The trend since Monday has been forming a contracting triangle pattern. A lower high pattern below the resistance at $0.25 and a higher low pattern above $0.2268 (recent low). A break above the triangle resistance gave IOTA a boost above the short-term resistance at $0.24. Unfortunately, the momentum fizzled out leaving $0.2425 untested.
Looking at the Moving Average Convergence Divergence (MACD) we can tell that IOTA has an inclination to the upside. The growing positive divergence suggests that buying entries will continue to increase in the coming sessions. The price is sitting above the simple moving averages with the 100 SMA on the 1-hour chart offering support at $0.2385 and the 50 SMA at $0.2375. Other notable support areas include $0.2350, $0.2300 and $0.2275.
MIOTA/USD 1-hour chart
Parascom Games partners with IOTA to launch Tangle-based development platform
- The platform, dubbed Caer Sidi, helps third party developers to launch games.
- The gaming industry is extensively using distributed technology and cryptocurrency.
Estonia-based Paracosm Games has recently launched Caer Sidi – a Tangle-based game development platform. The platform helps third party developers to launch games using the distributed nature of IOTAs network. Caer Sidi is developing an ecosystem of interconnected games that are run in a non-centralized manner. Presently, the gaming industry is extensively using distributed technology and cryptocurrency. Recently, Waves also collaborated with a game development platform called The Abyss.
Caer Sidi gives an offbeat gaming experience. Paracosm Games also recently launched its first game: Post Scriptum. The game is set in a medieval period post the Christian apocalypse including select humans, demons and the undead survived armageddon. The use of a distributed layer to run the game will be beneficial in many ways. IOTA doesn’t charge any fee; therefore transactions and data transferred over the Tangle are virtually free. This will result in the reduction of cost to run their game but will require a decent amount of mining power to execute.
The network is gaining enormous benefits for having a gaming platform performing tons of transactions. The Foundation is helping the network to grow by signing up more partnerships to boost transaction volumes. With the coordicide launching in the next couple of years, increasing transaction volumes must undoubtedly be their business development goal.
IOTA Partner IBCS’ Chairman Joins Its Board, Says It Would Be A “Game-Changer” For The Enterprise
IBCS Poland has joined Tangle Universe Project with its IBCS Tracker solution and its Chairman, Brian Marcel just joined IOTA’s advisory board.
IBCS is a provider of solutions that optimize logistics processes in the supply chain area.
An applications solutions integrator in the Enterprise Mobility market in Middle Europe, IBCS supports companies in improving the effectiveness of logistic processes via the implementation of IT solutions and consulting services.
IBCS tracker is one of its products that track returnable containers or packaging based on distributed ledger technology like IOTA Tangle.
In May 2019, IBCS Group announced that IBCS Poland has joined the Tangle Universe Project with its solution IBC Tracker.
Now, the chairman of the company has joined IOTA as its newest members of the advisory board.
Marcel believes IOTA would be “game-changer” for the Enterprise as IOTA and Tangle, he said are “vastly superior” in terms of solving the blockchain’s limitations of speed, scalability, and cost.
“I am delighted to join the Advisory Board where I can hopefully introduce IOTA to a number of my customers and suppliers. Using my experience in introducing barcodes over the past 40 years can take some of the mystique out of the Tangle, making it more customer-friendly.”