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.
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
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.
