Price Analysis

IOTA Portrays a Stable Bullish Movement Amongst the Total Bear Sentiment

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IOTA partnered with Zühlke to look out for the Pay-Per-Use machine solutions and data security using blockchain technology. According to the foundation, the tie-up with Zühlke will help the chain in integrating IOTA Tangle to open new channels of access to prohibited and expensive equipment.

IOTA Price Analysis:

On September 07, IOTA (MIOTA) was trading around 0.2422 USD. From there, today after 25-days, the coin hiked by a margin of 11.47%. In the weekly trading, however, the crypto strengthened by a small margin of 0.96% from the level of 0.267 USD on September 27. In yesterday’s trading as well, the altcoin spiked up by 1.77% from 0.266210 USD. It closed, the other day, at 0.270920 USD.

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IOTA Price
IOTA Chart By TradingView

IOTA has shown some stable action in the last couple of days. It is expected to soar up from the current level. The immediate resistance for the coin is at 0.277 USD. Further, support for the coin is at 0.2635 USD.

IOTA deals in the field of Internet of Things and it requires the use of heavy machinery. The equipment used in IoT are costly and purchasing manufacturing machinery takes a heavy toll on the company bankroll. By the means of this partnership, IOTA is planning to offer the equipment on an automated pay-per-use basis. This will reduce the cost of the foundation. Moreover, the coin is expected to go up and will give good returns in the long term.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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