IOTA revives investor interest with a new marketplace: IOT/USD leads with a 4% breakout
|- IOTA launches the first autonomous and decentralized marketplace.
- A new version of Trinity Desktop has also been launched.
- IOTA breaks short-term descending trendline resistance after finding balance above $0.27 support level.
The IOTA foundation has been active with new releases over the last week. The launch of what it terms the “world’s first autonomous and decentralized marketplace” has particularly caught the attention of the investors. Already forming part of the Industry Marketplace is Neoception DE and PepperlFuchs.
In addition to the launch of the market, the foundation also released trinity Desktop 1.1.0. The new version brings with it a new set of stability fixes, node basic authentication, a specific nide for proof work and more.
IOTA price technical picture
IOTA corrected from the recent monthly at $0.3161 over the weekend trading session. The downside extended under $0.28 before finding balance marginally above $0.27. An impressive breakout from the support area reclaimed position above $0.28 (broken support).
The 4% breakout above the short-term descending trendline resistance pulled the price towards $0.30. However, the upside is limited at $0.2944 (intraday high). Also limiting the movement upward is the 100 simple moving average (SMA) on the one-hour chart.
The relative strength index (RSI) retreat after touching the oversold suggests that the buyers are losing control over the price to the sellers. However, the recovery witnessed with the moving average convergence divergence signals buying pressure is still present. Therefore, we can expect the price to stay above $0.28 prior to another assault on $0.30.
IOT/USD one-hour chart
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