• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
iota, cryptocurrency, iotausd, iotabtc, crypto
Nexo Logo

IOTA Signals Bull Run After Forming Its First Weekly Golden Cross

Yashu Gola by Yashu Gola
2 years ago
in Cryptocurrency news, Technical analysis
Reading Time: 2 mins read
Advertisement
  • IOTA, a transaction settlement token for the Internet of Things (IoT), has surged by more than 400 percent from its March 2020 nadir.
  • Its price rally this week led to the formation of its first Golden Cross on a weekly chart.
  • Technically, the moving average crossover indicates a bullish continuation in the coming sessions.

IOTA has just printed its first weekly golden cross.

The 22nd-largest cryptocurrency saw its 20-weekly exponential moving average closing above its 50-weekly simple moving average this week for the first time since its listing. It is a positive development for traders who use such crossovers to gauge the performance of an asset/index.

iota, cryptocurrency, iotausd, iotabtc. crypto

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
IOTA/USD prints 20-50 MA crossover. Source: TradingView.com

Meanwhile, the price of IOTA kept increasing further into 2020, now sitting at 88.90 percent on a year-to-date timeframe. The extremely positive returns follow a wild, 427 percent spike from IOTA’s March 2020 nadir at $0.059.

At its highest, the cryptocurrency was trading at $0.314 earlier this week.

Why IOTA is Rising?

IOTA’s latest upside action appeared as a part of a wider bullish rally across the cryptocurrency market.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Almost every token listed in the top-30 cryptocurrencies’ list surged higher based on extreme price speculation led by central banks’ stimulus programs, a falling US dollar, poor Treasury yields, and a so-called DeFi craze.

So it appears, IOTA merely tailed the trend until July. Because in the said month, the Internet of Things blockchain project announced a series of crucial updates. In the week leading to July 7, for instance, the IOTA price surged 13 percent following the release of Pollen, its first testnet for a fully decentralized network.

The launch was an exercise to repair the damage caused by a wallet hack wherein hackers stole $1.6 million worth of IOTA tokens.

This is what happens when you combine amazing & very skilled colleagues w/ a terrific & impressively engaged community able to always give precious feedback on how to improve: here’s a glimpse of how the new analysis-server of our upcoming #Coordicide testnet will look! #IOTA pic.twitter.com/hUfG9P6NhS

— Angelo Capossele (@AngeloCapossele) June 29, 2020

Further, into July 2020, TMForum, the global industry association for telecom providers, announced that it is integrating IOTA solutions to gain an immutable data record of physical tracking devices. The same week saw the cryptocurrency rising another 9 percent.

What’s Next?

Alex Saunders, the CEO/Co-founder of Nugget News, said in a tweet that IOTA “fell out of favor” after its hacking incident. Nevertheless, the project still remains a go-to blockchain network for big companies, including Microsoft and Samsung, for IoT-based immutable data solutions.

Big news from $IOTA this month. Up 50% since my last tweet, still down 95% from ATH… 🌐💿🐝 #IOTA #Pollen pic.twitter.com/DiDId1FpJj

— Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) July 30, 2020

Meanwhile, on technical fronts, the Golden Cross formation puts IOTA en route to establish new quarterly highs.

iota, cryptocurrency, iotausd, iotabtc, crypto

IOTAUSD bull targets in the coming daily sessions. Source: TradingView.com

As of now, the pair is attempting to close above $0.305, a resistance level with the latest records of holding the price lower. If it breaks the ceiling, then bulls would target levels between $0.382 and $0.423.

Tags: cryptocryptocurrencyIOTAiotabtciotausd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

What’s Protocol Monetary Trade Policy, and Why Is it Such a Big Deal?

What’s Protocol Monetary Trade Policy, and Why Is it Such a Big Deal?

3 hours ago
Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

4 hours ago
Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

4 hours ago
Bitcoin

Bitcoin Slides Under $20K – Another Collapse In The Offing?

4 hours ago
Web3 Wallets Realize the Frontier Exploration of On-chain Addresses

Web3 Wallets Realize the Frontier Exploration of On-chain Addresses

6 hours ago
Ethereum Rising Gas Fees are Still Concerning But Presents Opportunity For Decentralized Exchanges

Ethereum Rising Gas Fees are Still Concerning But Presents Opportunity For Decentralized Exchanges

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Secure Your Finances With These Top DeFi Tokens: Gnox (GNOX), Solana (SOL), and Avalanche (AVAX)

June 30, 2022

XT.com Welcomes Cryptostone (CPS) to Its Growing Exchange

June 30, 2022

Crypto Crash: Bitcoin Falling Helplessly, Find Succour in These Two Coins

June 29, 2022

The Stock Market Crash Has Spurred Investors To Invest In Cryptocurrencies Like Mushe Token (XMU) and Quant (QNT)

June 29, 2022

TRON Breaks the 100 Million Users Mark, Celebrates Mainnet 4th Anniversary, and Announces Huge Hiring Push Amid Market Meltdown

June 29, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.