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Strong Rally: IOTA Breaks Out of Its Consolidation Zone!

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While IOTA is a traded cryptocurrency, it is not a blockchain. Since there is no blockchain, it cannot be mined, and hence it has no miner rewards or transaction fees. IOTA is a system that validates transactions at zero fees. We are witnessing a strong buying volume and rally since the beginning of September 2021. It seems this month is lucky for IOTA investors as it marks close to 20% of gains in just two days. The driving factor behind IOTA is not visible, but it has helped in a breakout of its previous consolidation levels.

IOTA currently trades at 44th position among the largest market capitalization cryptocurrencies. This price action is extremely bullish but will meet the thought resistance of the 200 Day moving average. We can expect IOTA to consolidate around 200 DMA for some time before a breakout, which will be a great point to acquire more coins. It would re-affirm the positive stance and enable us to enter a consolidation level with an opportunity to add more.

Entering at the current rally could offer more gains, but it would carry the risk of severe profit booking from the 200 DMA line.

IOTA Price Analysis

From a technical perspective, IOTA is following a breakout pattern with high volumes. Continuation of current volumes trend can scale IOTA towards a much higher value.

IOTA Price AnalysisOn daily charts, the price action of IOTA cryptocurrency is indicating strength and confidence. Rising RSI levels from neutral towards overbought zones indicate the buying sentiment on this crypto asset. IOTA has a strong support zone from $0.85 to $0.94, and there have been frequent bounce backs from these levels. Breaking from the support zones above the $0.95 indicated the first signals of market reversal. Current price action shows the possibility of green candles above 10% to help it surpass the 200 DMA resistance.

IOTA can further consolidate between the 200 DMA and upper resistance of $1.17 and $1.30 and still seem optimistic. Based on the IOTA forecast, for re-entry, one can wait for IOTA to fall towards the lower end of the consolidation zone at $0.90 – $0.95 levels. IOTA is more likely to move above 200 DMA, consolidate for a few days, and head towards $1.50 levels. IOTA is slowly lingering towards its all-time high of $2.75, and we can witness it hitting a new high. The only concern would be a drop in trading volumes, and any holder must keep a keen eye on daily volumes.

IOTA Price Analysis ChartOn hourly charts, IOTA price has broken the resistance of its small consolidation zone, where it was stuck for the last one week. After a strong buying candle, it moved slowly, making a higher consolidation range with back-to-back attempts at making a new high. Finally, the sellers gave hope and what followed in four hours of consistent buying with substantially high volumes.

RSI on hourly charts trades in overbought zones, indicating immense positivity, while MACD maintains a steady gap between the two moving averages indicating the momentum to continue for some time.

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What is Fuelling the Rally in DigiByte Cryptocurrency?

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The DigiByte ecosystem is built with an emphasis on speed and security, which are often identified as limitations on different blockchains. DGB uses a proof of work algorithm to validate and complete a transaction.

With a strong price action witnessed on DGB, we can expect it to reach 10 cents valuations shortly. The current DGB price is facing some resistance from its 100 DMA that has coincided with the wicks on daily chart candles.

DigiByte Price Analysis

DigiByte Price Analysis
One day chart with Support Levels, Resistance, Moving Average, and MACD indicator

DigiByte has an active support range at $0.0500 levels on the immediate downside and resistance at $0.0791 levels. In order to remain in trend there needs to be some profit booking or consolidation, straight-line upside momentum often carries the risk of sudden profit booking induced by some new development.

DGB is for now trading in a bullish zone with immense buying interest. The MACD indicator shows chances of the rally to continue without consolidating but, DGB should halt its rate of progression in between to continue with the upside movement. Its 100 DMA comes out at around $0.06252 levels.

DigiByte price prediction
One hour chart with Support Levels, Bollinger, and MACD indicator

DGB shows an immense increase in volumes over the last few hours indicating increased participation from buyers and sellers of this cryptocurrency. As MACD is nose-diving towards the red zone we expect some retracement from current levels and a second attempt at breaking the recent high created at $0.066 levels based on our DigiByte forecast.

Support on hourly charts comes out to be at $0.0579 with Bollinger Bands hitting newfound volatility. The widening of Bollinger bands indicates scope for higher volatility and continuation of the upside movement. For now, DGB seems to have taken support from the lower end of the mean average line and faces some turbulence at the mean average line indicated by red.

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TRON Negates the Fall in Valuation with Strong Buying!

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TRON has climbed huge mountains after its release in 2017 and has posted over 17650% of gains from its launch value in 2017 to September 2021. The value of TRX has undergone a huge change from $0.0022 levels to the current value of $0.9265 levels. TRON currently ranks amongst the top 30 cryptocurrencies with a market capitalization of over $6 billion with a circulating supply of 71 billion coins.

The value of Tron is straight forward a derivative of its exposed circulating supply and its potential. Comparing the numbers, TRON can process 2000 transactions per second compared to just six transactions per second of Bitcoin and 25 of Ethereum. Just comparing the numbers gives the transactional capability of TRX and its upscaling potential.

TRON has mostly focused on content creators and has used TRX coin as a way of rewarding content creators through its rewards. It even allows creators to develop their tokens and decentralize the gaming sector. Positioning itself as a content creator supporting ecosystem has enabled creators to connect directly with potential customers, eliminating centralized platforms. Considering the upscaling potential of Tron, people interested in investing here should hold their positions.

TRON Price Analysis

TRON retraced most of its lost value within a short time interval and is headed back towards $0.11 targets with a furious buying sentiment.

TRON Price Analysis

TRON underwent a surprise fall in its value within a concise time interval. The fall was responded with a huge buying action, almost equaling the selling volume on September 07 in the following day. TRON has once again jumped back to $0.0933. Surpassing the support zone will push the TRX price towards the close resistance of $0.11.

RSI levels have also jumped towards 52 from a steep decline, but the major uncertainty in sustaining the gains. If sellers activate their trades, we will witness a significant fall to the tune of its 100 DMA levels. As of now, TRON can be seen respecting its 200 DMA level of $0.08254. It is attempting a fresh price breakout but is more likely to close in an uncertain candle with wicks on both ends.

TRON price prediction

Hourly charts show consolidation as a large part of the trading action on TRX. It consolidates in a narrow range before giving a breakout and again consolidates within a narrow range. This price action is continuing, and there is a high probability of another breakout towards $0.100 levels. MACD on hourly trades has become positive again, and so has the RSI levels. RSI is now trading at above 50 levels. Combining all these indications and our TRX coin price prediction, one should hold their investments.

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MATIC: Can It Become the Bridge of Interoperability

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Polygon MATIC intends to resolve the problems of the Ethereum network to promote better incorporation of blockchain technology. Polygon came into play as Ethereum transaction fees increased to a level that started to affect scalability.

Polygon has also started to develop its network to support the Ethereum Defi Ecosystem. Another positive news coming in the Polygon counter is Mark Cuban’s unrevealed investment in Indian cryptocurrency, MATIC. This investment news at a time when all crypto counters are witnessing consolidation of profit booking has the potential to fuel another bull run MATIC.

In our MATIC price analysis, we have covered the technical chart and possible breakout zones, as this news can also cause a profit-booking by some. The only trouble to MATIC’s bull run could be ETH 2.0 scalability solutions launch. We know MATIC is working on building layer 2 solutions on the Ethereum network, hence it will be an interesting aspect to decide the future of MATIC.

Could MATIC Win the Ethereum Scaling Race?

Listing of the MATIC token on the Coinbase crypto trading platform has been a ground-moving reason for this cryptocurrency. The MATIC token is used as a transaction fee on all the dapps built using a polygon.

Polygon (MATIC) is currently emphasizing sustainable NFTs with the latest integration. Its Proof of stake mechanism offers better energy efficiency as compared to the Proof of work mechanism used by Ethereum. By moving the NFT transactions away from the main blockchain of Ethereum, Polygon is creating a sustainable market of itself.

The growth lead of Polygon even mentioned the prospects behind incorporating NFT as their blockchain network. Polygon joined the Polkastarter council on May 27, 2021, which is an independent authority that works on the selection process of Polkastarter IDOs. This can be a revolutionary event in scaling the value of the MATIC.

What does the Future Hold for the MATIC?

MATIC has a fixed token supply, a low market capitalization, and works on a network that is increasing its reach are some of the factors fueling further boost in this token. As of now, this cryptocurrency has become the 12th largest digital asset.

MATIC has moved up from the lows of $0.68 on 1st May to $2.89 on 19th May. The volatility of every cryptocurrency is the result of major profit booking and coin dumping. But even so, how does the MATIC coin price prediction fare with the expectation of the crypto-enthusiasts.

MATIC coin price prediction

MATIC price is currently trading well above all its important moving averages. There is a significant movement, which has pushed this coin over the $2 range twice. Currently, the price action is respecting its 30-day moving average. This cryptocurrency has been trading well above its important moving averages. Even in the short term support level of 30 days moving average.

If it fails to take support from its 7 days moving average, the prices could plummet to the $1.3 range. Although given its price action, such a level would be a good buying range. In the long run this coin seems positive as it is respecting the important levels.

MATIC News

Polygon Matic has been witnessing some stiff resistance near its all-time high. Earlier on May 19, the MATIC price fell from the same range during the profit booking session across the crypto market. MATIC coin, however, rebounded from just below $1 valuational to reclaim its previous high.

As evident from the chart patterns, the $2.45 levels will be instrumental for this crypto to reach new heights. There seems to be a support building near its last resistance levels, but any sell-off can push this coin back to the $0.80 range.

RSI indicator is also closing the oversold zones, indicating some weakness in the short term. A rebound from these levels can push MATIC to battle the stiff resistance around $2.45 and test its all-time high.

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