Is IOTA Bullish Now? I’ve got three pieces of positive news for the 10th largest cryptocurrency by market cap, IOTA. One is technical, and two are fundamental. On the charts, IOTA appears to have picked up from the bottom. This was on the news that it released its public beta version of the highly anticipated Trinity Desktop Wallet. To add to the positive market sentiment, Japanese tech giant Fujitsu chimed in. They announced they’re “all set to help roll out IOTA as the new protocol standard.” Here’s what’s going on.
IOTA Bullish Price Action
Back to the technicals, IOTA/USD spent most of mid-August around the key support level of 0.47. That is basically the price it was stuck at for around 4 months after its price calculation started by coinmarketcap back in July 2017. While the price remains below the daily Ichimoku cloud, it’s had 5 consecutive days of tiny bullish movements which could end up forming a saucer bottom chart pattern on the daily chart.
Versus Bitcoin, we have a similar chart pattern. The neckline of the saucer bottom pattern would be on 0.87.
Positive News Coverage Behind IOTS’s Bullish Moves
The IOTA Foundation launched the Trinity Mobile Wallet earlier this year. This wallet solved a huge number of usability issues so the development team has since then been working to achieve a full mobile wallet. They finally succeeded. The community confirmed the app is secure before the release. With that, they optimized the Trinity mobile wallet for desktop.
To add to the festivities, IOTA’s now getting together with Fujitsu to “develop and co-create innovative technology together with customers” according to Fujitsu’s spokesperson. They believe that IOTA is a suitable fit in production environment and supply chain management
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