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IOT/USD Market Overview: IOTA partners with Austin, Texas. Market reaction muted.

  • IOTA will bring innovation to Austin’s mobility industry.
  • Price is currently consolidating in a flag formation.
IOT/USD Market Overview: IOTA partners with Austin, Texas. Market reaction muted.
Rajarshi MitraRajarshi MitraIndependent Analyst

IOTA will be partnering with ATX, the transport department of Austin, Texas. IOTA aims at bringing innovation to the mobility industry for their 1 million people. The announcement was made at the University of Austin, Texas where Dominik Schiener, IOTA co-founder, was attending a special event. ATX tweeted:

“We’re partnering with the nonprofit @iotatoken to bring the future of mobility to Austin. Learn all about it at a special event on Monday, April 29, at 5 p.m. on the UT campus. ATD and IOTA leaders will make an announcement, followed by a Q&A.”

IOT/USD Daily Chart

  • IOT/USD went down slightly from $0.317 to $0.316 in the early hours of Wednesday.
  • The price is trending above the SMA 50 and SMA 20 curves and in the top half of the 20-day Bollinger band.
  • The Bollinger band also shows slightly decreasing market volatility.
  • The relative strength index (RSI) indicator is trending in the neutral zone.
  • The signal line is diverging away from the MACD line showing increasing bullish momentum.
  • Immediate support for bulls lies at $0.313.
  • The price is currently consolidating in a flag formation.


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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