Markets

IOTA Recovers On Hannover Messe, Elaad Partnership

IOTA is rapidly approaching our key resistance level when traded versus the USD. While the majority of cryptocurrencies appear to have entered a new bullish market sentiment, IOTA’s recovery speed is among the faster ones. This has a lot to do with the company ’s projects, partnerships, and vision.

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Recent Developments

In a Tweet on Thursday, IOTA revealed its partnership with a company called Elaad, a center of education and smart technology development that operates in the Netherlands. On Wednesday, Elaad released the first charging station in the world where charging and paying can be done with IOTA. The charger is part of the new ElaadNL test site.

Moreover, IOTA was heavily featured at a major industrial conference in Germany on Sunday. The conference is called the Hannover Messe. It is one of the biggest industrial trade shows in the world.

IOTA/USD Technical Analysis

Looking at its price action on the daily chart versus the USD, it has confirmed a break above the Ichimoku cloud.

The Tenkan line and the Kijun line of the Ichimoku Kinko Hyo standard setup have also had a crossover. The Chiko span has yet to cross above the cloud, which makes us believe we could see a pullback before the key resistance levels are reached.

These levels are at the 61% and 50% Fibonacci retracement levels of $2.42 and $3.09. The pivot level is at $1.5 while the support level is at $0.92.

About IOTA

IOTA’s mission is to enable the true Internet-of-things through machine economy. Some have called IOTA a revolutionary cryptocurrency and platform.

A big difference between IOTA’s platform and Bitcoin is that IOTA doesn’t actually use blockchain. Their platform uses a special Tangle log.

Unlike theBitcoin or Ethereum blockbuster where everything is kept on the blocks, there are no blocks in Tangle IOTA. The transactions there are related in their own special scheme.

IOTA’s token is both a cryptocurrency and a system for instant micropayments without any commission.

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This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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