IOTA (MIOTA) has been on investors’ radar since the last bull market, with Turkish investors showing particular interest. Dominik Schiener, the founder of MIOTA, participated in an AMA session on January 24th, where he made an announcement that excited investors by triggering a 12% increase. This announcement contained information about the launch of the IOTA Ethereum Virtual Machine (EVM) on March 31st and the release of IOTA’s new alpha version, v1.0.0-alpha.2.
IOTA Price Analysis
Following the recent gains in IOTA, technical analyses by experts could provide investors with clearer predictions. A review of the price charts indicates that the price has started to rise again towards the multi-year descending trend line. According to a post by the cryptocurrency analyst World of Charts on January 25th, a breakout at this point could lead to a mid-term target movement starting at the $1.20 price level.
Additionally, an examination specific to MIOTA shows that short-term breakouts could occur in several resistance zones. The increasing volume specific to IOTA was also indicating positive momentum according to a post by the prominent figure in the crypto world, CryptoBull, on January 25th.
IOTA Price Analysis
While all these developments were taking place, the price of IOTA (MIOTA) also increased. The price saw a 7% rise in the last 24 hours, trading at $0.2371. Despite a 14.21% loss seen last month, today’s increase accompanies a 2.13% gain from the previous week.
On the other hand, the price increase also reflected in the trading volume. The 24-hour trading volume for the altcoin increased by 42%, exceeding $153 million. Additionally, a 14% overall volume increase caught the attention of investors, with the volume value rising above $770 million.
Will Bitcoin Rise?
While positive developments occur on the IOTA front, eyes once again turn to BTC. At the time of writing, after visiting above $40,000, Bitcoin (BTC) is trading at $39,970, just $30 below this level.
Bitcoin’s trading volume has decreased by 28% in the last 24 hours, standing just above $18 billion. The overall volume remains nearly neutral at the $783 billion level, still not surpassing the $800 billion mark.
