IOT/USD price analysis: Bulls attempt price recovery following IOTA certificate upgradation

  • IOT/USD is currently trading for $0.304.
  • IOTA upgraded its certificate service with an API and is open for third-parties.

IOT/USD is on the verge of having three bearish days in a row, wherein the price fell from $0.356 to $0.304. During Monday, the price dropped to $0.288 where it finally found support when the bulls were buoyed by the news of IOTA’s certificate upgradation. Holger Köther, the Director of Partnerships at IOTA Foundation, posted on LinkedIn that IOTA upgraded its certificate service with an API and is open for third-parties. He wrote:

“I am excited to share that we have upgraded the IOTA certification tooling with an API and will make it available for 3rd party without cost. This means that we invite any university, corporate or other institution to create and immutably secure their own certificates on the IOTA Tangle, including their own custom design.”

After finding support on the $0.288-level, the bulls have crept the price up to $0.304 following repeated bearish corrections. The bulls will want to overcome resistance at $0.306.

IOT/USD daily chart

The daily price chart shows that IOT/USD had a bearish breakout from the green Ichimoku cloud. The $0.356 level has acted as strong resistance to the market. The moving average convergence/divergence (MACD) shows increasing bearish momentum as the signal line keeps diverging away from the MACD line. The Elliot oscillator shows six straight bearish sessions with growing intensity. The relative strength index (RSI) indicator has crept into the oversold territory.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD resumes the recovery, $12,000 back in focus

Bitcoin extended the recovery and hit the intraday high of  $11,617, At the time of writing, BTC/USD is changing hands at $11,570 with over 3.5% gains since the start of the day. 

More Bitcoin News

XRP/USD under $0.3000 after Ripple announces the investment in XRPL Lab

Ripple's XRP dropped below $0.30 after a failed attempt to settle above $0.3200 during early Asian hours. The coin has lost over 4% in the recent 24 hours and stayed mostly unchanged since the beginning of the day. 

More Ripple News

ETH/USD back on recovery track, $400.00 in focus

Ethereum, the second-largest digital asset came close to $400. If this psychological barrier is cleared, the price may retest the recent high of $415 and continue the recovery towards $450.

More Ethereum News

Altcoin Market Update: ETC and XLM face continual bearish correction

ETC/USD bears stayed in control for the fourth straight day. ETC/USD is currently priced at $7.13. The sellers are looking to get the price below the $7-level.The RSI is trending horizontally around 59.46.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast