- IOTA is down 9.5% on a daily basis, staying close to critical $0.5000.
- ElaadNL tested IOTA-based charging station.
IOTA, now the 12th largest coin by market value, is changing hands at $0.5210, 9.5% lower on a daily basis. Over the recent seven days, the coin lost 23.5% of its value. IOT/USD is moving in lockstep with other cryptocurrencies, pressured by bearish sentiments as US regulators are stepping up efforts to take the crypto space under control.
IOTA has a market capitalization of $1.4B, while its average daily trading volume reaches $37M. The coin is most actively traded at Btfinex with 44% of all trades attributed to IOT/USDT.
IOTA’s technical picture
From the technical point of view, IOT/USD is capped by $0.5580, strengthened by a cluster of SMA50 and SMA100, 1-hour. This resistance area is followed by SMA200 (1-hour) at $0.5915. Once it is cleared, the recovery may be extended towards psychological $0.6000.
On the downside, the nearest support comes at $0.5000 (intraday low). The ultimate barrier is created by $0.4800, which is the lower line of the recent range. If the price goes below this level, August 14 low at $0.4037 will come into view.
IOTA comes to the Netherlands
Meanwhile, IOTA Foundation continues to push its technology into real life. Thus ElaadNL (the Netherlands) successfully tested the first charging station based on IOTA Tangle, which allows implementing innovative Machine-to-Machine (M2M) interactions with secure data transfer and low-fee real-time micropayments.
“No back office and no communication protocol are required to operate the charging station; the transactions are exchanged directly without the use of a charge card or subscription,” explains Harm van den Brink, Technology expert at ElaadNL.
IOT/USD, 1-hour chart
Share
