IOTA (IOT) Faces Resistance That Threatens The Price Rally Upward

IOTA (IOT) was one of the cryptocurrencies that enjoyed the recent bull run. Even when the market saw a brief bearish wave, IOTA still struggled to maintain an uptrend. However, the token is facing resistances upward short and medium term. Breaking this resistances and moving higher would require a lot of bullish momentum.

IOTA (IOT) Price Analysis For July 28

During the early hours of today’s trading session, IOT’s price was trading in green. Despite the uptrend, the token was staring at a possible resistance level that may put an end to the uptrend or halt the price rally for a while. IOT isn’t just facing one barrier, it is facing several resistances. So, even if it successfully crosses one, it will be faced more resistances on the way up.

IOTA (IOT) Price Today – IO/ USD

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Name Price24H (%)
Bitcoin (BTC)
$6,479.07
2.22%
IOTA (MIOTA)
$0.483713
6.48%

In today’s price chart, IOT is up by over 1% trading at $1.026. The token is trading in less than 2% range for today. From the two-hour chart on FXStreet, the cryptocurrency is resting below the resistance at the descending trendline which it has not been able to cross in the past two weeks. The bulls will need to gather momentum to push upward if they are to successfully crossover. Even if they managed to get the momentum they need to make this move, they’ll still face another strong resistance ahead. This resistance is in the form of a descending trendline.

Audi Think Tank And IOTA Foundation Set To Explore Tangle-based Mobility Use Cases

Main while, Audi and IOTA Foundation recently announced that both parties will be going into partnership to promote Tangle-based mobility and explore its use cases. On the 25th of July, the one week long Google Design Sprint was announced by the IOTA Foundation. The Sprint with Denkwerkstatt by Audi is meant to cover the creation of a mobility ecosystem that is permissionless. The Berlin-based Audi think Tank and IOTA Foundation will come together to explore all possible use cases of a Tangle-based mobility ecosystem. They will release a low level prototype and gather customer feedback.


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