IOTA Price Analysis: Key Levels To Watch on Price, IOTA Deepens Collaboration With Imperial College London

• IOTA is on its path to recouping its daily losses after dipping to lows of $0.61
• At the time of publication, IOTA was changing hands at $0.69, down 1.04% on the day
• Dr. Pietro Ferraro of Imperial College London Joins IOTA Foundation

IOTA is on its path to recouping its daily losses after dipping to lows of $0.61 earlier in the day. The cryptomarket had tumbled earlier in the day amid escalating geopolitical tensions. At the time of publication, IOTA was changing hands at $0.69, down 1.04% on the day. In a recent announcement, IOTA furthers its academic collaboration with Imperial College London as Dr. Pietro Ferraro of Imperial College London Joins IOTA Foundation. In an official blog post, IOTA announced the appointment of Dr. Pietro Ferraro, who last September joined the IOTA team and was working on identity, chronicle nodes, and the IOTA smart contracts protocol. Ferraro will now be responsible for developing second-layer applications at the IOTA Foundation.

Key Levels
Resistance Levels: $1.1250, $0.9500, $0.8000
Support Levels: $0.6199, $0.5719, $0.3461

IOTA/USD Daily Chart: Ranging

IOTA/USD Daily Chart

IOTA (MIOTA) is attempting to recoup some losses after dipping to lows at $0.61 in today’s trading session. A recovery to the upside could hit the MA 50 at the $0.92 level. More bullish actions could find the next barrier at the MA 200 at $1.20. A successful climb above the MA 200 could add some optimism for a retest of the nearly two-month high of $1.60.

Even higher, the $1.69 level taken from the peak in late Nov. 2021 may come into the spotlight. Alternatively, if the price plunges further, the next stop could be a retest of the $0.61 intraday lows. Steeper decreases in the market could meet the $0.57 low reached in July 2021.

IOTA/USD 4-Hour Chart: Ranging

IOTA staged a mild rebound after dipping to lows around $0.61 on the 4-hour chart. An oversold RSI prompted sellers to take profit, offering the IOTA/USD pair a chance to claw back some losses. Despite this, the price action seems vulnerable to the downside as the RSI is yet to reach the 50 neutral levels. The $0.60 and $0.50 levels are the targets if selling pressure picks up again.

Alternatively, if buyers regain control, the MA 50 and 200 at $0.78 and $0.85 levels respectively are the hurdles bulls might have to contend with. Overall, IOTA might consolidate between the $0.61 and $0.85 boundaries. Any violation of these limits would alter the outlook accordingly and necessitate the next major move.

Note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Image Credit: Shutterstock