IOTA was among the top losers in top 10 on Monday despite rumors that the foundation is aiming to hit $5 through its partnership with Nordic Semiconductors. Unfortunately for IOTA holders though, the cryptocurrency took a bearish turn before even reaching a key resistance level and appears to be moving back towards the key support level of $0.44.

We haven’t given up on IOTA though. According to their website, there are a ton of upcoming projects and those under active development within the foundation. Some of IOTA’s engineering projects include:

  • Trinity wallet which aims to bring a top-quality user experience together with in-depth security audits, enabling more people to use IOTA easily and safely.
  • Hub which simplifies IOTA’s exchange integrations.
  • Qubic which enables smart contracts, oracles, and outsourced computation on IOTA’s Tangle. Projects that are still in the research phase include a spam prevention and detection tool, an automatic peer discovery tool, and a cryptography spec which details all the cryptographic elements of IOTA.

    • Projects that are still in the research phase include:

  • A spam prevention and detection tool.
  • An automatic peer discovery tool
  • A cryptography spec which details all the cryptographic elements of IOTA.

    • IOTA (MIOTA) Technical Analysis

    Looking at IOTA’s price action on the daily chart you’d notice that the crazy fluctuations we used to see in the cryptocurrency’s price a few months ago have definitely calmed down. IOTA’s price action has become smoother and is probably waiting for that renewed bullish movement in the cryptocurrency market as a whole to bottom-out towards the all-time-high levels.

    The IOTA/USD pair is being restricted by the daily Ichimoku cloud as the cloud is forming a strong resistance, preventing the price from moving higher. We need at least a break above the cloud to consider the formation of a new uptrend. Once this consolidation ends, the new bullish momentum could open doors for further gains towards the 38% and 50% Fibonacci retracement levels respectively.

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