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Are you new to Tangle and IOTA? Fret not, here’s the basic guide you need!

Bitcoin

Like a few other projects, IOTA is one such venture which doesn’t use a blockchain. Instead, the Tangle aids in the process of transactions being carried out without the need for fees and enhanced scalability. The network’s usage of distributed-ledger technology has drawn the attention of Jaguar Land Rover, and many other corporations [particularly in certain European countries].

According to the candlestick chart connected to the IOT/USD pair on tradingview, the digital currency powered by distributed ledger technology is being impacted by buyers as of now. The daily RSI [for 13 periods] is about to reach 54 which signifies that $MIOTA is part of the neutral zone. The MACD line has been trying to break-past the signal line and head north, but so far, the histogram has failed to turn green.

Post-29th-September, the peaks tied to the Awesome Oscillator landed above the zero line, pointing to the arrival of bullish pressure. Initial resistance may be felt near the $0.2942 mark, and support lies adjacent to the $0.2509 level. The Ichimoku Cloud may go green from 13th October onwards, signifying a possible period of victory for the buyers.

IOTA is ranked at #16 in the market ahead of Chainlink and DASH. The trading volume recorded stands at roughly $5.908 million, whereas the supply has 2,779,530,238 MIOTA coins in play as of this instant. The total market cap of IOTA amounts to $763.162 million for now. The price surged at a rate of 2.19% in the course of the past 24-hours; this brought MIOTA all the way up to $0.274565 where it presently rests.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.