A couple of years ago, the blockchain industry, along with the cryptocurrencies, was still budding and used to hold the least access to masses. At the time, while the coins were busy settling their feet in the market, the blockchains or networks behind them were aggressively looking for various services to fit in and to get utilized more and more. Apparently, a similar kind of set up is getting built these days.
It looks like the way the market seems to be in no mood to strike a quick recovery after the Coronavirus scenario, the altcoins like IOTA are pulling their socks up to strengthen their position in the crypto sphere. In the past few weeks, we have seen many exchange giants and even crypto coins joining hands with different sectors like the food industry, internet services, and many more.
Crypto firms, exchanges, and blockchain-based organizations are putting their 100% to broaden their range of services with the help of fruitful collaboration, which will, in turn, help their businesses and prices to propel once the markets are done with current bearish shadows.
Notably, IOTA has largely been proactive when it comes to partnering with other services. The most recent collaboration has occurred between IOTA and Dig_it, and this particular partnership primarily focuses on mining.
IOTA will provide the technology to create a trusted layer of data sharing for Dig_it, a new collaborative project funded under the EU Horizon 2020 programme to digitize the mine #supplychain & create a more sustainable #mining industry. https://t.co/eS5D2JPUxD#IOTA
— IOTA (@iotatoken) May 19, 2020
The collaboration has plans to use IOTA’s Unique Digital Identity to verify the data authenticity of the data collated from the mining industry. Moreover, IOTA has added one more feather to its hat as it has just been added to Mixdice, an online dice casino.
— MixDice (@MixDiceCasino) May 20, 2020
Despite these activities, IOTA’s price trend has been struggling to have a hold over bulls for the last few days. Notably, the currency initiated an upward momentum with a strong positive bias just yesterday. The upside shift of its price confirms that the coin may benefit from these partnerships to quite an extent.
The bullish break could take place once after the coin found a support level at $0.18. Currently, the altcoin is tracing strong bullish candles. Here, IOTA is testing resistance at $0.19.
IOTA price is recovering from a 10.60% loss of its valuation while it is heading upwards above 50% Fib level. The currency is about to cross the 200-day EMA line with a bullish bias. At the same time, the MACD indicator is in the positive zone. Differing a bit from these two, the moving averages are in negative areas.