IOTA (MIOTA), known as the Internet of Things (Internet of Things), is a scalable and decentralized project developed in terms of the communication and usability of internet-connected objects, smart devices and all objects.
The remarkable part is that it is not a blockchain, but has a tangle technology infrastructure.
When we look at the data of Coinmarketcap, we can see that its current price is around 1 dollar, its market value is 2.5 billion dollars, and almost all of its circulating supply is in circulation.
However, if we compare it to other altcoins, there is not enough volume.
The most recent IOTA side; Launching zero-fee smart contracts in new beta and
It is at the forefront with its news such as having its own NFT market.
So what is the main trend in technical data?
On the daily chart below, we can see that the main resistance area, which is facing the first noticeable sustained seller pressure, is around $1.6.
With the correction from the past levels since April 2021, it has gained momentum by collecting buyers at the level of 0.68 dollars and selling pressure has occurred at the level of 1.5 dollars.
In other words, there is a nice support structure in the band range of 0.68 and 0.7 dollars.
It seems that the main trend direction of the price has not been broken since December 23, 2020.
In IOTA, which frequently receives a reaction from the $ 0.68 region, the resistance levels specified together with the breakout can be followed.
In addition, after the Fed meeting that will take place in March, when the uncertainty in the general markets prevails, we can see positive reflections on the price with the volume that will enter the altcoins, if the markets are clear and the crypto money markets are moving with clarity.