There are numerous digital currency projects in progress out there which makes quite a difficult task to point the finger at one and say “this is the ultimate crypto project. It is even a more daunting task for an investor if the similarities between each project are more than the differences they have. Hence, as a new cryptocurrency project is a launch, investors might end up having some doubts as to whether they are investing in the right digital coin.
IOTA aims to put its Tangle, DAG (Directed Acyclic Graph) and DLT (Distributed Ledger Technology) platform to the test via Machine-to-Machine economy. As written on the digital currency’s website, IOTA is “reportedly the first open-source DLT that is built to spur the future of the IoT (Internet of Things) with data integrity machines and feeless microtransactions.” IOTA is traded on major digital currency exchanges with a host of firms planning to include more of it in the future.
Coinone, OKEx, Binance, Bitfinex, and Exrates are the companies that carry IOTA at the moment. Many experts are the view that IOTA’s unique value isn’t genuinely reflected in the monetary valuation of the present era as it is still a concept yet to be fully realized. There are areas relating to it that can be improved as the IoT fulfills its potential. Thus, there is plenty of possibilities for IOTA to go further. See our price prediction below:
IOTA/USD Price Analysis
IOTA hasn’t done great in the last five days. It has been stuck between the 50-day SMA and 20-day EMA. On the upside, resistance is on the 20-day EMA. If this level is broken the next break is at the 2.2117 USD level. On the downside, there is support at the 50-day SMA at 1.63 USD. Both moving averages are flattening, which reassures the probability of a range bound move. There is no buy setup here. Hence, we are suggesting that you trade on it.