The weekly MACD is also trending with a strong bullish perspective. The weekly RSI is in overbought territory but not overextended and is trending with a positive divergence.

The technical picture suggests buyers still have the upper hand. The weekly picture for IOTA shows the cryptocurrency surged almost 113%, rallying from lows of $0.55. IOTA looked to have stemmed a two-year downtrend trajectory with recent price moves that saw it trade as high as $1.41. The downward action started after IOTA/USD reached what looks like a potential local top at $1.41 on 13 February IOTA/USD price outlook Upward momentum saw it continue higher, with candlesticks suggesting increased sell-off pressure. Market reaction to the news saw IOTA/USD surge 32% in one day, shooting from $0.88 to $1.40. As the world’s first such project, Alvarium offers “a measurable way of evaluating the confidence in data before it is used by an application.” While most altcoins surged in the wake of Bitcoin‘s lull after retreating from highs above $48k, last week’s upside for IOTA’s price levels was largely due to a promising new partnership.Īccording to the IOTA Foundation, IOTA had struck a partnership with Dell Technologies on Project Alvarium. The technical outlook now suggests it’s likely to sink further if bulls fail to stop the downward action above a major support level. IOTA’s struggle as the new week begins comes after the cryptocurrency charted higher over the past seven days. Earlier, the cryptocurrency’s price had dropped to lows of $0.95, which meant losses of up to 32% since prices touched $1.41, the highest level since 2018. IOTA is trading around $1.12, about 20% off this past week’s peak price. New partnership news send IOTA/USD flying to its highest level since 2018, but a dip in sentiment is threatening further gains

103 iota to usd