- As much as the current trend is bullish, the assets are still trading close to the annual lows.
- There plans to support selling IOTA to external wallets in the Q1 of 2019 on Coinsave.
The bulls are back in the market and their intension is to revenge. In the last three months, cryptocurrencies have declined significantly. All the bullish predictions that indicated that the market will recover above all-time highs were simply a mirage. As much as the current trend is bullish, the assets are still trading close to the annual lows.
IOTA has been correcting higher since the week started. Prior to the gains, the asset had explored the rabbit hole forming a low around $0.207. IOTA had been in the oversold and trading below its value for some time now, giving the bulls a chance to recovery and stop the trend to the south. There was a bounce above the hourly simple moving averages where MIOTA/USD cleared the resistance at $0.24. The bullish momentum did not slow down throughout Tuesday, besides MIOTA/USD battled to step above $0.3 during the Asia hours today. The price is still hammering on this level.
However, the path of least hurdles is sideways according to the chart. The indicators on the chart are positive to show that the bulls are in control. The RSI on the hourly chart shows is holding its position in the overbought levels. The DMI is horizontal and motionless at 45.87. IOTA is likely to break above $0.30 in the near-term however, movement to $0.31 will be an uphill task considering the technical levels.
In other news, Coinsave a Canadian crypto platform has announced support for IOTA. The digita asset will trade against the Canadian dollar and is available for all registered users. Besides, new users will have access to the pair. IOAT can now be bought directly using the CAD in addition to selling IOTA for CAD. There plans to support selling IOTA to external wallets in the Q1 of 2019.
MIOTA/USD 1-hour chart
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