FxWirePro- IOTUSD (Chart of the day)

IOTA's Tangle is an open, feeless, and scalable distributed ledger, designed to support frictionless data and value transfer. It is the first distributed ledger built for the "Internet of Everything" - a network for exchanging value and data between humans and machines.

IOTA features

Transactions per second 1000

Speed- 1-3 sec

IOTUSD showed a minor jump after a minor consolidation.

Any daily close above $0.50 confirms further bullishness.

IOTUSD jumped more than 35% in the past five days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.3770 and is currently trading around $0.3681.

The bullish invalidation can happen if the pair closes below $0.25. On the lower side, the near-term support is $0.33. Any break below targets $0.30/$0.25. significant downtrend if it breaks $0.250.

 The immediate resistance stands at around $0.50. Any breach above confirms bullish continuation. A jump to $0.70/$0.880  is possible. A surge past $1 will take it to $1.35.

It is good to buy on dips around $0.30 with SL around $0.23 for TP of $1.