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Market Analysis

IOTA Technical Analysis – Price Surges to $0.40

Considered by many as one of the best projects around, IOTA, looks like it may well have started its recovery out of the bear market. With strong fundamentals and a series of partnerships, the previous all-time highs of $5.00, could well be smashed during the next bull run.

Our previous analysis highlighted the key $0.3244 level and the trendline which needed to be broken if we were to consider a longer-term upside bias. The price pulled back to the highlighted $0.28-0.29 support zone. A reversal around this zone, resulted in us testing the trendline once more, and this time the price surged straight through, this time to the $0.39-0.40 highlighted zone. We can expect some consolidation around this level, with a daily close above potentially heading us to the next upside target of $0.43.

With rumours of institutional investment and stronger relations within the Volkswagen group, and a test pilot within Jaguar and Land Rover vehicles in the pipeline, the future for IOTA looks very promising.

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