- IOTA’s surge is directly connected to the news that the network is partnering Jaguar.
- Jaguar is testing a “smart wallet” that is leveraging the IOTA protocol.
- A weak bullish trend is building at $0.31719 with bulls eyeing $0.3200.
IOTA is the market leader in the cryptocurrency market. The assets spiked incredibly spewing fireworks above the cryptocurrency horizon with gains that hit past $0.3200 following a more than 12% surge on Monday.
IOTA’s surge is directly connected to the news that the network is partnering Jaguar; the premium car manufacturer. Jaguar is said to be testing a “smart wallet” that is leveraging the IOTA protocol. On launching the “smart wallet” Jaguar is going to be rewarding car users for the data they share while driving as well as “pay for tolls, parking, and charging for electric cars” in cryptocurrency.
The news settled in well with investors and traders taking their positions. From the lows around $0.3351 recorded on Friday last week, IOTA scaled the levels above the 50 SMA, 100 SMA as well as EMA200. Further gains in three successive candlesticks stepped above $0.3000, $0.3100 and $0.3200 hurdles. However, the crypto lost steam short of $0.333 resulting in a slight retracement to $0.3100. Meanwhile, a weak bullish trend is building at $0.31719 with bulls eyeing $0.3200; a move that is expected to pave the way for a correction above $0.3300.
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