IOTA is a decentralized open-source distributed ledger designed for data and value transfer. It was developed as the next generation digital revolution in the form of the Internet of Things. It helps to share data between two devices without any central authority.
It powers the Internet of Things with many features, such as tamper-proof data, low-resource demand, free-of-cost transactions, and many others. Investors think IOTA will have significant future growth across all industries. It will play an important role in developing a sustainable decentralized economy in the world that connects machines and humans. The authentication process and validators ensure the data being shared on the network is genuine and legitimate.
IOTA was started in 2015. After one year, it was released for beta testing, which was mainly used for payment mechanisms. It had many bugs; later, in 2017, a successful payment mechanism was released for the broader business partnership.
That is why most experts and investors think IOTA has a great future in the coming years. Please read our MIOTA price analysis before investing.
At the time of writing this post, IOTA was trading around $0.345, which reflects significant growth from the last month. The daily chart shows that MIOTA is bullish, and most technical indicators support this view. RSI is 63, and candlesticks are forming around the upper half of the Bollinger Bands, suggesting bullishness for the short term. $0.36 is a resistance on the daily chart, so MIOTA may come down further from that level.
On the weekly chart, candlesticks are taking support around the current price level, but MACD is bullish with four green histograms. However, RSI is below 40. We think the MIOTA price may consolidate or take a bullish turn after a few months, so it is the right time to invest for the long term. As a long-term investor, you can include IOTA in your portfolio.