IOTA Price Outlook: Chart Analysis Indicates Potential Move to $0.27-$0.28
The post IOTA Price Outlook: Chart Analysis Indicates Potential Move to $0.27-$0.28 appeared on BitcoinEthereumNews.com.
IOTA, due to its application in the Internet of Things (IoT) and DLT, has been gaining attention as digital assets regain momentum. The launch of the IOTA Rebased mainnet this year could boost the token’s adoption as the network’s utility increases. On Tuesday, February 11, IOTA (IOTA) made a significant technical move by retaking a critical higher timeframe (HTF) support level, according to market analyst Pentoshi on Twitter. This occurred when IOTA’s price reached $0.245, which may be a sign of a change in the trend to the upside. In the past, such support flips have been critical in price trends, often resulting in strong upward movements. Crypto Expert Offers IOTA Price Analysis Pentoshi went on to identify the potential price range between $0.27 and $0.28 and projected the upside to be around 10-14% from current levels. Since this IOTA price action is accompanied by a broader market recovery, renewed investor confidence in cryptocurrencies is showing strong fundamentals, as outlined in our recent blog post. IOTA, due to its application in the Internet of Things (IoT) and DLT, has been gaining attention as digital assets regain momentum. The technical shift in IOTA’s chart pattern is aligned with the growing optimism in the crypto market. Following the HTF support flip, IOTA observed increased trading. Trading volumes had risen by 35% within 24 hours, with total volume reaching $45.85 million at the time of writing on February 11, as shown on data from CoinMarketCap. Trading interest indicated increased market participation, showing traders responding to the price action. Furthermore, there was improved liquidity on Binance’s IOTA/USDT pair; the bid-ask spread narrowed to 0.0002, which meant there was a more effective trading environment. Market participants were closely monitoring the flipped support level at $0.24, and most traders were making adjustments based on this price…
Filed under: News - @ February 12, 2025 5:25 am