IOTA

DeFi

Dogecoin

April

<div class="coinjournal">
 <ul>
 <li>IOTA price is down 4% in the past 24 hours and trades near $0.30.</li>
 <li>The IOTA team announced a key partnership in Singapore,but is the price set to bounce or dip futher?</li>
 </ul>
 IOTA’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> has declined 5% in the past 24 hours to trade near a key <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> level. The slip now has weekly gains cut to just 2% while the altcoin has turned red on the monthly time frame.
 The IOTA token trades at $0.31, down from recent highs of $0.41. This cryptocurrency is also one of the worst performing since the 2017 bull market. Per data from CoinGecko, IOTA is down more than 94% since its all-time high above $5.25 reached over six years ago.
 On Tuesday, IOTA announced a major partnership with Tenity as it looks to tap into the growth potential in the Real-World Assets (RWAs) and DeFi sectors. The APAC Accelerator is a 12-week program that will see select startups receive $50k in grants.
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 📣 Big news from Singapore! We’ve teamed up with @tenity_global to launch the #IOTA APAC Accelerator, a 12-week program to empower the next generation of DeFi pioneers.💪
 Find out how you can apply &amp; receive a $50,000 grant 👇 https://t.co/R4EQAVaX4O pic.twitter.com/rKQp9jJqDa
 — IOTA (@iota) April 9, 2024
 </blockquote>
 
 Despite this and other recent key developments, price remains largely devoid of any strong momentum.
 <h2 id="span-style-font-weight-400-iota-price-bounce-or-dip-span">IOTA price – bounce or dip?</h2>
 Bitcoin’s run to the new all-time high above $73k in March catalysed strong gains for most altcoins. Ethereum for instance reached a multi-year peak above $4,000 while Solana, BNB and even Dogecoin soared.
 IOTA did manage to break above $0.30 during the broader market spike in March. However, it remained well below its 2021 highs above $2 and as a result has dropped out of the top 100 by market cap.
 Can IOTA’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> recover to the last bull market highs and potentially eye a retest of its ATH? 
 <h3 id="span-style-font-weight-400-iota-chart-outlook-span">IOTA chart outlook</h3>
 IOTA/USD on the weekly chart is below the 50-week EMA and the RSI is trending lower below 50.
 A symmetrical triangle pattern is also formed on the daily chart, with <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> capped by a downtrend line since mid-March.
 <img decoding="async" class="alignnone size-full wp-image-197858" src="https://cdn.thebittimes.com/images/2024/04/10/4091f332b0e7576f110ba884ea0c371b.webp" alt="" width="1074" height="545">
 If <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> breaks out from the upper trend line, IOTA could retest levels at $0.35 and potentially $0.41 to allow for a bullish breakout in line with the broader market.
 On the flipside, a breakdown for IOTA from the lower trend line would indicate a bearish trend. In this case, a drop to $0.20 is possible, below which bears could target October 2023 lows of $0.13.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/iota-price-nears-a-key-support-can-bulls-bounce-on-key-news-tbt84955.html">https://thebittimes.com/iota-price-nears-a-key-support-can-bulls-bounce-on-key-news-tbt84955.html</a>

IOTA price nears a key support: Can bulls bounce on key news?

Table of Contents

TheBitTimes

Other articles published on Apr 9, 2024

Three Cryptos You Will Be Glad You Bought This Year

Court Ruling Favors Coinbase, Boosting Crypto Industry Confidence

Dogecoin Dev Ends Speculation on Elon Musk's DOGE Holdings

Soaring Crypto Market Indicates Bullish Phase with Veteran Altcoins Leading the Charge

When Will Stellar Lumens (XLM) Break the $1 Barrier?

Great Danger in the App on Everyone’s Phone: Investors Should Do This To Prevent Cryptocurrencies...

Join our free newsletter for daily crypto updates!