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  • “With IoT and Distributed Ledger Technologies (DLT), the Smart revolution is a massive opportunity”¦” said Wilfried Pimenta.
  • The area at $1.75 is decent demand zone, but $1.65 – $1.55 is a decent buy zone.

IOTA is extending gains, although it has sustained a brief downside movement after it met selling pressure slightly below $1.90. The digital asset has been trading higher highs and higher lows since Monday this week. IOT/USD is up 2.39% on Friday, besides there is potential for more upward corrections toward the weekend trading session.

In the meantime, IOTA Data Marketplace launched in the last quarter of 2017 is creating waves in the market. It works on the Proof of Concept (PoC) algorithm in order to support an innovative ecosystem. The protocol rewards devices that have been connected,  for the content and data they provide in real-time. IOTA has successfully completed the initial phase of the project and now is seeking to connect organizations like the Nordic Semiconductor, which focuses on “ultra-power performance wireless System-on-Chip (SoC).” The company in collaboration with NTNU, the Norwegian Science and Technology University in Trondheim will work to add Nordic Thingy: 52 on to IOTA Data Marketplace. The head of Business Development at IOTA Foundation, Wilfried Pimenta said regarding the partnership:

“We are very excited to see Nordic Semiconductor onboarding the data marketplace and exploring IOTA’s potential. Involving Academia in this exploration is a winning scenario for all as new IT talent is needed by all industries undergoing digital transformation. With IoT and Distributed Ledger Technologies (DLT), the Smart revolution is a massive opportunity of national stakes which we ought to shape together.”

Technically, IOTA price is battling to break above the short-term resistance at $1.85. Breaking above this level is bound to open the door for more gains and possibly overcome the key resistance at $1.90. Currently, the 50 SMA has crossed below the longer term 200 SMA showing that sellers are seeking entry and IOT/USD could correct lower in the near-term. The area at $1.75 is a demand zone, but $1.65 – $1.55 is a decent buy zone.

IOT/USD 1-hour chart