IOTA price analysis: IOT/USD defies gravity, spiking to $1.87; IOTA seals the deal with Norway financial group

• IOTA is 8% since the start of the day, momentum is strong.
• IOTA Foundation announces partnership with DNB.

IOTA is rallying strongly, building upon Thursday gains triggered by Trinity Mobile wallet app launch. IOT/USD gained over 8% in a couple of hours ahead of the European session. Currently, the coin is changing hands at 1.87  with strong upside momentum. Average trading volume spiked to $15M from $129M the day before with most active transactions registered in MIOT/USD at Binance (30% from total daily volume).

Meanwhile,  IOTA Foundation announced the partnership with DNB,  Norway’s largest financial services group. They will work together to explore the potential of the  economy of things and IOTA Tangle technology.

David Sønstebø, the founder of IOTA Foundation commented:

“Norway has always been a vanguard in adopting cutting-edge technological paradigm shifts that improve the efficiency of our society, I am very excited at the IOTA Foundation which is spearheading Distributed Ledger Technology and IoT payments working with Norway’s largest financial institution on carrying this tradition onwards.”

IOTA is testing 50-DMA at $1.87, while this level may cap the upside for the time being, a sustainable movement higher will increase bullish pressure and push the price towards critical $2.0 with 23.6% Fibo at $2.057. On the downside, the correction is likely to be limited by $1.61 (100-DMA). once cleared, 1.60 will come into focus.

IOT/USD, daily chart