IOTA Bullish Run Meets Resistance at 1.42
IOTA is continuing its recovery to the recent ATH @ 1.5360 after a 30% correction this week. Currently, the bull run is finding a lot of resistance at the 1.42 price level and expect that without a breakout we will see the price fall to test its lower bounds (probably at the 1.35-30-25 levels). I am expecting a breakout to 1.60 if we overcome the recent price resistance.
I am long on IOTA's vision of Machine 2 Machine communication/transactions and the recent partnership with Microsoft is encouraging. There is still much development necessary within IOTA including a hardware wallet and more use cases and we can expect much more volatility over the upcoming months. The recent rise in BTC and interest from institutional investors in the whole cryptosphere has also increased the amount of speculation on IOTA as its recent gains have not gone unnoticed by the larger crypto-community.
I am long on IOTA's vision of Machine 2 Machine communication/transactions and the recent partnership with Microsoft is encouraging. There is still much development necessary within IOTA including a hardware wallet and more use cases and we can expect much more volatility over the upcoming months. The recent rise in BTC and interest from institutional investors in the whole cryptosphere has also increased the amount of speculation on IOTA as its recent gains have not gone unnoticed by the larger crypto-community.
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