IOTA (MIOTA) has been on investors’ radar since the last bull market, with particular interest from Turkish investors. IOTA’s founder Dominik Schiener excited investors with a significant announcement during a January 24 AMA session, revealing the launch of IOTA Ethereum Virtual Machine (EVM) on March 31 and the new alpha release v1.0.0-alpha.2.
Following IOTA’s gains, technical analyses by experts suggest a potential rise towards a multi-year descending trend line. A breakout could lead to a mid-term target of $1.20, as indicated by a crypto analyst from World of Charts.
Several short-term breakouts are also possible within specific resistance zones for MIOTA. Increased trading volume for IOTA signals positive momentum, as noted by prominent crypto figure CryptoBull.
Despite a 14.21% loss in the previous month, IOTA has seen a 7% increase in the last 24 hours, trading at $0.2371. This rise accompanies a 2.13% gain from the previous week, with a 42% surge in 24-hour trading volume, exceeding $153 million, and an overall volume increase of 14%, reaching over $770 million.
While IOTA experiences positive developments, attention shifts to Bitcoin (BTC), which is trading close to $39,970, just shy of the $40,000 mark. BTC’s trading volume has decreased by 28% in the last 24 hours, with the overall market volume remaining nearly neutral at around $783 billion, yet to surpass the $800 billion level.
