IOTA was once a crypto-market sensation, but has largely been quiet since the outbreak. But the project was interrupted by the 10% gain of IOTA founder Dominik Schiener yesterday.
Shiner's comments, which confirmed the launch of the upcoming IOTA Ethereum Virtual Machine (EVM) and the launch of IOTA's new alpha version, sent the market into a frenzy. But he advised IOTA holders to share their tokens on the IOTA EVM in the second quarter, a tip that sparked a buying frenzy among token farmers.
The IOTA Foundation's release of the alpha version iota-ore last week marked a major step forward in refining protocol parameters and strengthening network usability. The foundation's key developer, Hans Moog, announced the update on his social media account.
The alpha release brings fixes to Docker's network integration, reducing future hacks in nightly tests, faster bug detection, and better code management for different team members. Developers can now use local snapshots, reducing the burden of serial uploads and downloads.
While the alpha release may not be full of updates, Moog emphasized its importance, saying that “nobody cares about alpha for TestNet, but the community can gain some knowledge of our progress from this release.”
IOTA seems to be recovering after the bear attacks. This follows a clear bearish trend from December 2023 onwards. The latest news helped the token rally after touching a monthly low of $0.19 before the announcements. Since then, it has risen to $0.24 as of the time of writing.
The highest price today was $0.25, an impressive 12% increase after the correction, making it the top performing token for the last 24 hours after Chiles (+13.66%).
Image: Tradingview
Unloading as additional secret parameters Explanatory Moving Averages (EMAs), Average Directional Index (ADX) and Relative Strength Index (RSI), bearish trend is still likely for IOTA. Still, today's price hike – or a slightly larger drop – could set the stage for a rebound, and If the token is bullish, Tradingview predicts it could reach $0.263.
On the upside, the price could bounce back to $0.23, with the monthly low of $0.195 breaking the next support.
Like weather forecasts, of course, forecasts are worth more than the pixels they're printed on. But IOTA's return to the crypto community is finally interesting.
Edited by Ryan Ozawa.
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