After Jaguar, IOTA Adds 14.6 Percent as Participation Expands 4.5X

Dalmas Ngetich

1 year ago

2 mins read

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IOTA prices surge 14.6 percent
Partnership with Jaguar means rewarding drivers in IOTA, boosting adoption

Jaguar announcement did stimulate IOTA bulls. At spot rates, IOTA is up 14.6 percent complete with high volumes, three times the average. Even so, IOTA is technically bullish after late Dec 2018 events thrusting prices above a seven-month resistance trend line.

IOTA Price Analysis

Fundamentals

There is a re-awakening and leading the charts is IOTA, a coin whose founders say will power the world of IoT. However, it has not been like this. Before this announcement, the currency was a bottom feeder, low in volatility and retesting Q1 2019 lows.

Affirming this lack of activity and missing investor confidence is low Sentscore as relayed by Predicoin. At 4.1, the coin has been propelled to the limelight thanks to increasing social media searches and a spike a deluge of Jaguar triggered IOTA related news pieces.

As investor confidence increase thanks to the expansion of prices in the last 36 hours, we should take note that the direct correlation between price and sentiment would likely lift the asset prices in the next few days.

That is despite lagging technical indicators printing a value of 2.5 at the time of press revealing that momentum indicators are signal bulls. With the new partnership, drivers willing to share their data will receive IOTA rewards.

Besides, Jaguar said they are developing a smart wallet for drivers who will automatically switch to auto, allowing Jaguar to collect traffic or other useful data as they move towards their objective of “achieve zero emissions, zero accidents, and zero congestion.”

Candlestick Arrangements

At the time of press, IOTA (IOT) is bouncing off Q1 2019 support line at 25 cents and up 14.6 percent in the last day. Technically, this is bullish and confirm the bullish breakout trade of late Dec 2018. Then bulls rallied above the seven-month resistance trend line.

Even so, there has been no confirmation. Instead, IOTA prices have been ranging within a 15 cents range with caps at 40 cents and 25 cents as the lower limit. Therefore, since prices are bouncing off the 78.6 percent Fibonacci retracement level of Dec 2018 high low, sustained bull momentum would see IOTA hit Dec 2018 highs at 40 cents.

After that, if there is a wide-ranging bar driving price above 40 cents, a resistance level, then prices will likely test 55 cents or higher.

Technical Indicators

There is a surge in transaction volumes—18 million. Since it is above the average of 5.7 million, risk off, aggressive traders can buy on dips with the first target at 40 cents as aforementioned.

Chart courtesy of Trading View

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.