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The MIOTA coin has been traveling in a sideways trend for two months now. In this consolidation, the price formed a symmetrical triangle pattern in the daily time frame chart. A recent news that added more popularity for IOTA was announcing the launch of a new incentivized staging network, ‘Shimmer.’
Key technical points:

The MIOTA price gave a breakout from a symmetrical triangle pattern in the daily time frame chart
The intraday trading volume in the MIOTA coin is $399 Million, indicating a 555.6% gain


Source- MIOTA/USD chart by Tradingview
After rejecting the $2 mark on September 5th, the MIOTA coin entered into a deep correction phase that plunged the price to the $1 mark. Since then, the coin has been consolidating within this range, which eventually revealed a symmetrical triangle pattern.
The coin price resonated in this pattern for more than two months, when today it finally attempts a strong breakout from the overhead resistance trendline. As per the crucial EMAs, the MIOTA maintains its bullish trend by trading above the 200 EMA.
moreover, The Relative Strength Index value at 58 indicates a bullish sentiment in the coin.
MIOTA/USD Chart In The 4-hour Time Frame

Source- MIOTA/USD chart by Tradingview
The MIOTA coin gave a 4-hour candle closing above the resistance trendline, supported by a massive surge in the volume activity. However, the higher price rejecting in this candle adds some concern about this breakout, and therefore, the crypto trader should ensure the coin price obtains sufficient support in its retest phase before taking a long entry.
As per the traditional pivot levels, the crypto trader can expect the nearest resistance level for this coin at $1.5, then at $1.67. And on the flip side, the support level is $1.13.
 
The post IOTA Price Analysis: The $2 Mark Seems Achievable With This Bullish Pattern appeared first on Coingape.


The MIOTA coin has been traveling in a sideways trend for two months now. In this consolidation, the price formed a symmetrical triangle pattern in the daily time frame chart. A recent news that added more popularity for IOTA was announcing the launch of a new incentivized staging network, ‘Shimm...

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IOTA Price Analysis: The $2 Mark Seems Achievable With This Bullish Pattern


As part of its efforts towards achieving complete decentralization, IOTA Foundation may have just announced the upcoming launch of a staging network, called ‘Shimmer’. This will see to it that all IOTA upgrades are first approved by the community before being rolled out — an essential component of a decentralized governance system.


IOTA Foundation Announces Upcoming Staging Network
The layer-1 network will be a testing ground for innovations as builders and developers in the community continue looking to assess decentralized finance (DeFi) and nonfungible token (NFT) applications. The model will ensure that the compatibility of applications and even their efficiencies have been confirmed and established before launching on the IOTA mainnet as a way of ensuring a hitch-free deployment.



The IOTA Foundation develops an open-source protocol that supports data and value transfer between devices and humans.
Since its inception back in 2018, the IOTA Foundation has supported various initiatives within the IOTA ecosystem ranging from research, education, and development in the distributed ledger technology (DLT) industry.
Token Rewards Up For Grabs
Meanwhile, IOTA token holders will also be earning staking rewards in $SMR through the Firefly wallet of the platform. And according to IOTA, seeing as token distribution will be taking place over the next few months, the Shimmer network is scheduled to launch sometime around early next year.
Dominik Schiener, who is the Chairman and also a co-founder at IOTA Foundation, has expressed full optimism about the project. He recalls the recent success recorded by Polkadot’s canary network, Kusama, and believes his company will surely enjoy the same kind of market receptiveness with their announcement as well. Schiener did not fail to admit the potential risks of the network though. He was able to mention how the team has taken necessary steps to mitigate against such risks arising.
It was only in mid-October, that the IOTA Foundation released its smart contract beta platform with the sole aim of accelerating the growth of DeFi and NFT applications because of proposed incentives of higher scalability and lower fees.
 


The post IOTA Foundation Set To Launch Staging Network In Early 2022 As Token Holders Prep To Earn Rewards appeared first on Coingape.


As part of its efforts towards achieving complete decentralization, IOTA Foundation may have just announced the upcoming launch of a staging network, called &#8216;Shimmer&#8217;. This will see to it that all IOTA upgrades are first approved by the community before being rolled out — an essential...

IOTA price	$1.41
Low - High 24H	$1.33 - $1.45
Market cap	$3.90B
Volume 24H	$111.70M
All time high	$5.25 -73.21% December 19th 2017
All time low	$0.081637 1622.31% March 13th 2020
Genesis date	N/A

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