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- MIOTA invites everyone in the Shimmer community along with the launch of the Shimmer network.
- The price fluctuates amid the invites and launches and increases by about 1%, amounting to $0.225
- This is a great example of how the community explored governance and ownership independent of the IOTA foundation.
The Shimmer Community Governance Group presents 3 fundamental decisions for the community after months of preparation. It set an example of how the community discovered governance and ownership independent of the IOTA foundation. This surely affects the market for MIOTA. On the other hand, David Schiener promotes the key attributes of the coin.
Here’s what charts tell
The price rises from the support levels and initiates the uptrend. It may maintain a different momentum. The price bounces, taking support at $0.21 and rising to $0.22. The BB bands diverge in concavity as price levels change. The market witnesses volatile volumes of sales and purchases.
The RSI indicator moves closer to the 50-mark average and becomes neutral. It may maintain this position of being neutral and move around 50-mark. The MACD indicator may soon converge and flash slightly bull attributes but mostly neutral. It may move intertwined with the signal line along the same lines.
The peephole
The price continues to escalate and form an uptrend. The MACD indicator turns slightly bullish but moves parallel to the signal line, making it more neutral. It may diverge a bit before converging. The RSI indicator moves along the lines of the 50-mark average and goes neutral. It may maintain its position but may go closer to the 60-mark.
Conclusion
Amid the invites and new reforms, the market for IOTA is very vulnerable and can go either way, depending upon the user’s response. The market seems too cold, but soon the fight between bull and bear may begin, and it will decide who will rule the market.
Technical levels
Support levels: $0.21 and $0.20
Resistance levels: $0.28 and $0.29
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
