- IOTA is rangebound with bearish bias.
- IOTA Foundation announces another community project.
IOTA has been sliding ever since the failed attempt to break above $2.0 handle ($2.03 touched on June 3). Currently, it takes the 9th place in top-10 coins with market value $4.8B and average daily trading volume about $84M. The coin is most active on Bitfinex exchange in MIOTA/USD, followed by IOT/BTC on Binance.
IOTA announced a new community project – IOTA Lab – that will be run by Akita, the blockchain solutions provider
“IOTA Lab” will be an open community blueprint project, funded by the Ecosystem, managed by AKITA and shaped by you! How does the perfect Maker-/ Office-/ Tech-Space look like (Design, Hardware, Equipment, Rewards…)? – reads the announcement published on Akita Twitter account.
IOTA technical picture
IOTA is changing hands at $1.72 with the solid support created by 100-DMA at $1.61. That’s where fresh buyers join the game and push the proce higher. However, the upside is limited by downside trend line currently at $1.9. Once it is broken, the focus will shift onto $2.0.
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