- Iota crypto has shown remarkable performance in the past week with a 5.51% rise.
- The IOTA crypto is poised for a massive surge, as it prepares itself to blast through the barrier.
IOTA is a type of DLT, which stands for distributed ledger technology. DLTs can help us keep our private data safe, run programs that no one can interfere with, and trade and own things without middlemen.
A distributed ledger technology keeps track of who owns what tokens on a ledger, a record of token ownership among many nodes. This would be easy if all nodes were run by the same person, but in DLTs the ledger state has to be decided by a group of independent nodes.
There is always a risk that a bad node joins the network, so any DLT needs a way to defend itself. The way that IOTA does this makes it different from other protocols.
IOTA works on the Tangle, a structure where new transactions check the old ones, and almost any other DLT works on a blockchain instead.
To keep its state and history safe, a blockchain has to put transactions in blocks and link the blocks one by one.
That causes a natural slowdown: imagine putting the world’s goods into a single train one wagon at a time. IOTA avoids this completely.
The IOTA protocol is still being tested. It has two public networks: the IOTA mainnet is the stable network that handles your IOTA tokens, and Shimmer is the testing network for the newest and best protocol changes.
When the changes are confirmed on Shimmer, they go to the mainnet. The next big change is Stardust. The future change that finishes the decentralization work is called Coordicide.
Technical Analysis of IOTA Crypto on Daily Time Frame
Iota crypto asset is expressing bullish characteristics and has the opportunity to surge further.
It has attained a remarkable performance in the past week by 5.51%, last month by 57.88% and 91.64% in the last three months, implying a consistent upward trend.
The chart shows a 1.12% drop in the last 24 hours, trading at $0.2870 at press time. The IOTA crypto is poised for a massive surge, as it prepares to blast through the barrier and soar to new levels from the current support zone.
However, if the demand for the IOTA remains high, the asset price could bounce back from the current level. The next major goal for the IOTA price is to reach $0.5000.
But, if the IOTA crypto price fails and is unable to sustain above the $0.2600 level, it could slump further.
Iota crypto asset is displaying bullishness and rising tendency as it sustains above major trend EMA’s, reliant on the buyers’ surge. The IOTA asset is showing bullish signs and the RSI is above the 50 level, indicating that the asset is still in a bullish zone and can go higher.
Summary
Iota crypto asset is expressing bullish characteristics and has the opportunity to surge further. It showed a sharp 5.51% spike last week, a 57.88% rise last month and a 91.64% rise in the last three months, implying a consistent upward trend.
However, if the demand for the IOTA remains high, the asset price could bounce back from the current level. The next major goal for the IOTA price is to reach $0.5000.
Technical Levels
Support Levels: $0.2600
Resistance Levels: $0.5000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.