CandleFocus IOTA price prepares for a big move ahead of Rebased launch
2025-01-30
Author: Content Editor
The price of IOTA is showing signs of bottoming out and has experienced a rebound, possibly due to the broader cryptocurrency rally led by Bitcoin. The upcoming Rebased protocol upgrade is expected to be a significant catalyst for IOTA, positioning it to compete with leading chains like Solana and Avalanche. The upgrade will bring decentralization, compatibility with Ethereum Virtual Machine, faster transaction speeds, and the ability to stake with annual rewards. This expansion of IOTA's reach may lead to a rebound in its price. Technical analysis indicates that IOTA may have bottomed out at a key support level and is poised to potentially retest a neckline at $0.4256, representing a 36% increase from its current level. However, if the price drops below the support level of $0.2760, the bullish outlook would be invalidated.
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