- IOTA Foundation’s regulatory affairs manager explains project spanning sustainability initiatives.
- IOTA’s Soonverese released its first update.
- The protocol introduced features including On Tangle Requests.
The IOTA ecosystem is growing, and Soonverse is growing along with it. It has shared its first developer update for the year. Soonverse took to Twitter and mentioned that its core developmental tasks were focused on On Tangle Requests, Token-based voting, and improvements in search functionalities in the protocol.
While Soonverse continues to evolve, the IOTA protocol reveals searches are way improved, even though there’s still additional room for improvements across the board. Furthering the optimism, the IOTA network has been involved with several sustainability-related projects in the market.
The International Association for Trusted Blockchain Applications (INATBA) recently broadcasted a report on the use of distributed ledger technology (DLT) for peer-to-peer energy trading, and blockchain network IOTA was one of the preferred choices for the project. In an interview, Mariana de la Roche Wills, co-chair at INATBA, and the regulatory affairs manager at the IOTA Foundation, stated that the IOTA foundation is focusing more on DeFi and Web3.
Here’s What the Charts Narrate
IOTA prices have formed a falling parallel channel with current price action occurring near the upper band. The volume reflects to attract attention as both sellers and buyers participate in the market. OVB slopes up to establish an optimistic outlook in the market. The 200-EMA floats above the present prices, while the smaller ones form a possible bullish crossover. If current prices of $ 0.22 crack out of the channel, a high reaching $0.32 can be established.
The CMF floats in the positive region to indicate the prevalent bullish momentum in the token prices. The MACD records ascending buyer bars in the zone above the zero-histogram mark as the lines undergo a bullish divergence. The RSI revolves within the range of 60-70 depicting a buyer-influence.
4 Hour POV
The 4 hour time frame shows price rising steadily. The CMF remains in the positive zone to indicate future bullish swings. The MACD witnessed seller participation as the lines diverged forming deep seller bars in the negative zone. The RSI slopes down to the range closer to 50-mark to hint at seller pull.
The IOTA ecosystem is trying to do everything right, but prices take their own sweet time to react as predicted. The analysts anticipate a solid bull run awaiting in the future reaching near $0.32. Investors can trust the support zone of $0.19 to invest in the token.
Support levels: $0.19 and $0.14
Resistance levels: $0.28 and $0.32
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.