IOTA's Tangle Surge: $0.24 Breakout Sparks Uptrend Debate
1min read IOTA, a cryptocurrency known for its unique Tangle technology, has experienced significant price volatility in recent months. After reaching a high near $0.60 in December 2024, iota underwent a steep correction, leaving investors wondering about its potential recovery. The latest price action suggests that IOTA is attempting a strong rebound from key support levels, with a noticeable price surge above $0.24. Traders and investors are questioning whether this marks the beginning of a sustained uptrend or just a temporary relief rally.
The IOTA daily chart shows a strong shift in price action after a prolonged downtrend. Recently, the price tested and bounced off a critical support level around $0.12-$0.13, suggesting that buyers are stepping in aggressively. This level had previously acted as a strong base during past corrections, reinforcing its importance. Since the bounce, IOTA has climbed above $0.24, signaling renewed bullish momentum. A key observation is that the price has broken above previous consolidation ranges, hinting at the possibility of further gains if buyers maintain control.
The $0.12-$0.13 range has been an essential demand zone for IOTA price, where price reversals have occurred multiple times. This zone serves as a psychological level where buyers find value, making it a crucial reference point for traders. Currently, a new potential support zone is forming around $0.20-$0.22. If IOTA holds above this area, it will provide a strong foundation for further bullish movement. However, if price action dips below this level, another retest of the lower support levels could be in play.
The Relative Strength Index (RSI) is currently at 56, reflecting increased buying pressure. Previously, RSI was in the oversold zone, but the latest breakout suggests a shift in momentum. If RSI moves above 70, it would indicate overbought conditions, potentially leading to a short-term correction. Additionally, the Heikin Ashi candlesticks show a clear bullish trend, with multiple consecutive green candles forming. This further confirms the positive momentum in IOTA’s price action. The trend structure suggests that if buyers maintain pressure, IOTA could extend its rally toward the next resistance zones.
If the current momentum continues, IOTA’s first major resistance zone lies 