IOTA (MIOTA), known as the Internet of Things, is a scalable and decentralized project developed in terms of the communication and usability of objects connected to the Internet, smart devices and all objects with each other. IOTA is not a blockchain but has a tangle technology infrastructure.

Because there is no blockchain, there are no miners, and because there are no miners, there are no fees. Price bubbles occur when networks currently in use experience congestion, but IOTA aims to offer unlimited efficiency at minimal expense.

When we look at the data of Coinmarketcap, its current price is around $ 0.9. Its market value is $2.5 billion and we can see that almost all of its circulating supply is in circulation. However, if we compare it to other altcoins, there is not enough transaction volume. The most recent IOTA side; It attracts attention with news such as launching zero-fee smart contracts in the new beta and having its own NFT market.

On the daily chart, the main resistance area that is facing the first noticeable constant seller pressure is around $1.6. With the correction since April 2021, it has gained momentum again by collecting buyers at the level of 0.68 dollars and selling pressure has occurred at the level of 1.5 dollars. In other words, there is a nice support structure in the band range of 0.68 and 0.7 dollars.

iota graph

It seems that the main trend direction of the price has not been broken since December 23, 2020. In IOTA, which frequently receives a reaction from the $ 0.68 region, the resistance levels specified together with the breakout can be followed.

After the Fed meeting that will take place in March, when the uncertainty in the general markets prevails, we can see positive reflections on the price with the volume that will enter the altcoins, if the markets are clear and the crypto money markets are moving with clarity.