- “The Qubic platform will be the most significant contribution to the IOTA stack”¦” IOTA team tween read.
- The 200 SMA which corresponds with the 50% Fibo will offer a stronger support area above $1.65.
IOTA has been on a journey of breaking barriers since the April 29. An upside movement was initiated around the lows of $1.34 supported by the bullish trendline. IOT/USD continued on the trend breaking past $1.90, however, the bulls encountered stiff resistance short of $2.0 which in turn opened the gate for sharp declines.
IOTA team has given its community glance into the Qubic project that is still in development. The system is set to be one of the most technologically advanced creations in the crypto world and especially when it comes to payment and messaging systems. The tweet by IOTA reads:
“The Qubic platform will be the most significant contribution to the IOTA stack, it will enable unlimited new use cases and turn the IOTA Project into a full solution. Information and details are beginning to be unveiled right now at http://qubic.iota.org”
In the meantime, IOTA price has broken below the support at $1.80, besides it is testing the weak support provided by the 38.2% Fib retracement level with the previous swing high of $1.99 and a low of $1.34. In the short-term, IOTA price could break this support, however, $1.7 will play a big role in stopping declines. Further down, the 200 SMA which corresponds with the 50% Fibo will offer a stronger support area above $1.65.
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