• IOTA promotes sustainable energy consumption with EnergieKnip.
• Earlier partnered with Dell Technologies to track carbon footprints.
• Token prices show less movement in intraday.

IOTA Foundation, a nonprofit distributed ledger technology ecosystem provider, has taken various steps to highlight blockchain’s potential to tackle the ecological issues. It is collaborating with EnergieKnip, an IOTA-powered wallet app that rewards households for sharing data on energy consumption. 

Built by BlockchainLab Drenthe and leveraging IOTA’s ledger tech, EnergieKnip allows homes to share data anonymously with the local authorities. In return, they receive token rewards distributed via IOTA blockchain. It earlier collaborated with 

Dell Technologies to develop a data-driven solution to track carbon footprints in the real time. Dell’s edge solution team unveiled deploying IOTA to develop a solution on top of Dell’s in-house Data Confidence Fabric (DCF) and Project Alvarium initiatives.

Price Footprints 

The IOTA prices have formed a rising pattern with constant pressure from sellers. The suppressed rise has made volume volatile and the rising OBV suggests it to be beneficial. The EMA ribbon lies beneath the price movement, except for 200-EMA. The remaining EMAs formed a possibility of a bullish crossover. The current prices can face resistance near $0.28.

The CMF observed an uptick to indicate upcoming bullish momentum. The MACD records a few sellers, trying to take over the buyers. The RSI moves sideways to indicate prevailing buyer influence in the market. The analysis suggests the push now can send prices to new heights.

A Closer Look

The 4 hour time frame shows sellers’ resistance to increase and push the price rally from being established. The CMF falls closer to the baseline indicating declining bullish momentum. The MACD starts to record ascending seller bars to show them gaining steady dominance. The RSI finds a spot near the half line to show retrieving buyers. 

Conclusion 

The IOTA platform has held on to the concept of sustainability. It has made efforts to integrate sustainability with the potential of blockchain. The IOTA prices are trying hard to establish a solid bull run, but may take time and a stronger force to send it soaring. The IOTA holder to watch out for the resistance near $0.28. The investor can trust the support zone of $0.20 to buy IOTA.

Technical levels

Support levels: $0.20 and $0.16

Resistance levels: $0.28 and $0.33

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes 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

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.