IOTA registers more than 70 percent increase in the past 30 days and the start of this year brought a lot of high expectations about the cryptocurrency. The traders have seen the altcoin making huge performances under high pressure and the same was anticipated for the first quarter as reported in the previous IOTA News.
The second month of Q1 has finished one week and if we compare the last one-month chart of IOTA, we can see that IOTA registers about a 70 percent surge in price. The following months are anticipated to continue at a similar pace. IOTA’s price was trading at $0.17898 and the price of the currency then escalated to $0.2546 by massive 42.26% in the next 8 days or to 17 January. During the same period in the next 8 days, the price range of the cryptocurrency was locked around $0.220 and by January 29, the price was standing at $0.3070. The last days of January saw a slight pullback pressure and the price got to $0.29.49.
Starting from January 10 until the end of the month, the overall progression registered 62.86% increase and in the first two days of February, it reflected an upward momentum in the price and touched $0.36456 by 23.98%. The IOTA price dropped to $0.30506 in the next five days and according to the MACD indicator, the line has cut the Signal line and the same reflects that the coin could recover soon.
Currently, IOTA is trading close to the major support level and it has breached the immediate support level at 0.316147 so the next support level will be at 0.
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311417. There are slight signs of a slight recovery. Also in the meantime, The blockchain non-profit network IOTA releases a new alphanet and is in the coming altcoin news for announcing version 0.1.0 of the Coordicide Alphanet ahead of the planned launch in Q2. This will go on IOTA’s Rust-based node (Bee). This early release is part of the company’s plan to move the network to a coordinator free IOTA mainnet.
As IOTA releases this new version, the major features now include Autopeering, Gosspit, Rate Control and API which were all released on this version of the Coordicide alphanet.
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