RATE Group | IOT/USD fireworks go off on Monday
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IOT/USD fireworks go off on Monday

03 Feb IOT/USD fireworks go off on Monday

Posted at 08:38h in Cryptocurrency News by

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  • IOTA spikes incredibly on Monday testing the critical $0.34 resistance.
  • Technical levels places IOTA in the hands of the bulls as more upward action is anticipated.

IOTA is trading nearly 10% higher on the day on Monday. It is arguably, the best performing cryptocurrency on the market. IOTA is trailed closely by Ethereum Classic, which is trading 6% higher on the day,

Read more: Ethereum Classic Overview Market: ETC/USD pushes symmetrical triangle breakout towards $13.00

At the time of writing, Iota is trading at $0.3365 after correcting higher from $0.3060 (opening price). An intraday high of $0.33991 has been achieved. However, the momentum appears to be grinding to a halt.

Unless the resistance at $0.4 is broken, Iota could dive to erase the gains accrued on the day mainly due to the formation of a rising wedge pattern. According to the technical levels presented by the RSI, Iota is mainly in the hands of the bulls. The RSI at 83 has slowed down the…

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