IOTA price analysis: IOT/USD defies the laws of gravity gaining 15% on a daily basis

IOTA is the growth leader on Monday morning.
Numerous use cases support the coin.

Tanya Abrosimova Independent Analyst

IOTA is changing hands at $0.6056 after spiking to $0.6077 during early Asian hours. The coin is an obvious growth leader of the day with over 15% gains on a daily basis and +6% since the beginning of Monday. IOTA's market capitalization is registered at $1.67B, and the average daily trading volume is $47.9M.

IOTA Foundation has been busy promoting its protocol and technology with tech giants in the automobile and electronics industries. Thus the Japanese tech giant Fujitsu is about to make IOTA its new protocol standard, according to Leopold Sternberg, Program Manager.

The Japanese tech giant, Fujitsu, is ready to set IOTA (MIOTA) as the new protocol standard. In this regard, a couple of days ago, IOTA News made a similar announcement on its Twitter page, citing Leopold Sternberg, Fujitsu Program Manager.

“Fujitsu is well-equipped to help roll out IOTA (MIOTA) as the new protocol standard as we are experts in both IT services and the manufacturing of IT products,” he said, adding that the company aims to “develop and co-create innovative technology together with customers.”

Meanwhile, Volkswagen and IOTA' s joint project Digital CarPass is moving to completion. It employs IOTA technology for gathering vehicles telematics data and providing reliable mileage history, which is vital for the second-hand vehicle market.
This news is supportive of IOTA, allowing the coin to shine to its advantage.

The local resistance level is seen at $0.61, followed by $0.6468 (August 10 high). Once it is cleared, the coin may continue the upside towards $0.7928 (DMA50). On the downside, the support comes at $0.5582 (Monday's low) and $0.5410 (SMA50, 1-hour chart).

IOT/USD, 1-hour chart

Author

Tanya Abrosimova

Independent Analyst

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