The IOTA Prize is approaching important support: Can the bulls recover from important messages?

• The IOTA price has fallen by 4 % in the last 24 hours and is traded near $ 0.30.
• The IOTA team has announced an important partnership in Singapore. Will the price increase or continue to sink?

The price of iota has fallen 5 % in the last 24 hours and is close to an important level of support. The slip has now reduced weekly profits to only 2 %, while the old coin has become red in the monthly time frame.

The IOTA token is traded at $ 0.31 and is therefore below the latest maximum of $ 0.41. This cryptocurrency is also one of the cryptocurrencies with the worst performance since the Bullenmarkt 2017. According to the data from Coingecko, Iota has dropped by more than 94 % over six years ago since its all -time high of over $ 5.25.

on Tuesday, Iota An important partnership with tenity, around the growth potential Real-World Assets (RWAS) and Defi. The APAC Accelerator is a 12-week program in which selected startups receive grants of $ 50,000.

📣 big news from Singapore! We got together with @tenity_global href = "https://twitter.com/hashtag/iota?src=hash&ref_src=twsrc%5etfw"> #jota apac accelerator, a 12-week program to strengthen the next generation of defi pioneering

Find out how you can apply and receive a scholarship in the amount of $ 50,000 👇 https://t.co/r4eqavax4o pic.twitter.com/rkqp9jjqda

- IOTA (@IOTA) 9. April 2024

Despite these and other important developments of recent times, the price largely lacks a strong dynamic.

IOTA price-upswing or decline?

The rise of Bitcoin to the new all-time high of over $ 73,000 in March triggered strong growth in most old coins. Ethereum, for example, reached a multi-year high of over $ 4,000, while Solana, BNB and even Dogecoin skyrocketed.

IOTA managed to break the $ 0.30 brand during the general market increase in March. However, it remained significantly below its maximum of over $ 2 in 2021 and, as a result, fell out of the top 100 after market capitalization.

Can the price of IOTA recover to the last highest at the bull market and possibly experience a new test of his ATH?

IOTA-CHART outlook

IOTA/USD is on the weekly chart under the 50-weekemaema and the RSI tends down under 50.

also on the daily chart is a symmetrical triangle pattern, the price of which has been limited by a downward trend line since mid-March.

If the price breaks out of the upper trend line, IOTA could test the levels at $ 0.35 and possibly $ 0.41 to enable an interest bully outbreak in accordance with the wider market.

On the other hand, a breakthrough from IOTA would indicate a declining trend from the lower trend line. In this case, a decrease to $ 0.20 is possible, below which the bears could aim at $ 0.13 in October 2023.