IOTA Market Update: IOT/USD aims for $0.40 as Chrysalis update gears up to go live next week
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IOTA is all set to launch the first phase of its Chrysalis project, the beginning of a series of upgrades leading up to IOTA 1.5. The new upgrade incl

  • IOTA plans to launch the first phase of its Chrysalis update next week. 
  • The updated network is expected to process 1000 TPS. 
  • The upgrade will include many scalability improvements. 
  • IOTA plans to launch the first phase of its Chrysalis update next week. 
  • IOTA plans to launch the first phase of its Chrysalis update next week. 
  • The updated network is expected to process 1000 TPS. 
  • The updated network is expected to process 1000 TPS. 
  • The upgrade will include many scalability improvements. 
  • The upgrade will include many scalability improvements. 

    IOTA is all set to launch the first phase of its Chrysalis project, the beginning of a series of upgrades leading up to IOTA 1.5. The new upgrade includes several improvements to the network. The IOTA Foundation noted that Chrysalis will bring “significant performance, usability, and reliability upgrades,” including the capacity to process 1,000 transactions per second (TPS). It will also be able to confirm transactions in ten seconds.

    The first phase of the upgrade will include multiple changes to achieve scalability improvements. This includes autopeering and Improved tip selection (URTS), which will speed up the process by which transactions are connected. 

    The second phase will encompass many other features such as Bitcoin-like UTXO model, atomic transactions, reusable addresses and binary transactions. IOTA is expecting these changes to improve the network’s usability rather than scalability.

    While the first phase of Chrysalis will start next week, the second phase is scheduled to be completed by October 2020. Chrysalis will also make IOTA “enterprise-ready” to attract larger corporations and governments to the platform.

    IOT/USD daily chart

    IOT/USD daily chart

    IOT/USD daily chartIOT/USD daily chart

    IOT/USD bulls have stayed in control for two days straight. The price has gone up from $0.37487 to $0.3935 as buyers aim for the $0.40-line. The price is back trending above the 20-day Bollinger Band, while the RSI continues to hover inside the overbought zone. These two indicators show that IOT/USD is presently overvalued and may face bearish correction soon.

    $0.37487 to $0.3935 indicators

    IOT/USD has four healthy support levels at $0.378, $0.363, $0.316 (SMA 20) and $0.272 (SMA 50). The MACD shows increasing bullish momentum.

    $0.378, $0.363, $0.316 (SMA 20) and $0.272 (SMA 50).

    Key levels

    IOT/USD

    Overview
    Today last price 0.39164
    Today Daily Change 0.01820
    Today Daily Change % 4.87
    Today daily open 0.37344
     
    Trends
    Daily SMA20 0.30903
    Daily SMA50 0.26773
    Daily SMA100 0.24026
    Daily SMA200 0.22329
     
    Levels
    Previous Daily High 0.38081
    Previous Daily Low 0.34501
    Previous Weekly High 0.32835
    Previous Weekly Low 0.2757
    Previous Monthly High 0.30525
    Previous Monthly Low 0.22143
    Daily Fibonacci 38.2% 0.36713
    Daily Fibonacci 61.8% 0.35869
    Daily Pivot Point S1 0.35203
    Daily Pivot Point S2 0.33062
    Daily Pivot Point S3 0.31623
    Daily Pivot Point R1 0.38783
    Daily Pivot Point R2 0.40222
    Daily Pivot Point R3 0.42363

     

    IOT/USD

    Overview
    Today last price 0.39164
    Today Daily Change 0.01820
    Today Daily Change % 4.87
    Today daily open 0.37344
     
    Trends
    Daily SMA20 0.30903
    Daily SMA50 0.26773
    Daily SMA100 0.24026
    Daily SMA200 0.22329
     
    Levels
    Previous Daily High 0.38081
    Previous Daily Low 0.34501
    Previous Weekly High 0.32835
    Previous Weekly Low 0.2757
    Previous Monthly High 0.30525
    Previous Monthly Low 0.22143
    Daily Fibonacci 38.2% 0.36713
    Daily Fibonacci 61.8% 0.35869
    Daily Pivot Point S1 0.35203
    Daily Pivot Point S2 0.33062
    Daily Pivot Point S3 0.31623
    Daily Pivot Point R1 0.38783
    Daily Pivot Point R2 0.40222
    Daily Pivot Point R3 0.42363

    IOT/USD

    Overview
    Today last price 0.39164
    Today Daily Change 0.01820
    Today Daily Change % 4.87
    Today daily open 0.37344
     
    Trends
    Daily SMA20 0.30903
    Daily SMA50 0.26773
    Daily SMA100 0.24026
    Daily SMA200 0.22329
     
    Levels
    Previous Daily High 0.38081
    Previous Daily Low 0.34501
    Previous Weekly High 0.32835
    Previous Weekly Low 0.2757
    Previous Monthly High 0.30525
    Previous Monthly Low 0.22143
    Daily Fibonacci 38.2% 0.36713
    Daily Fibonacci 61.8% 0.35869
    Daily Pivot Point S1 0.35203
    Daily Pivot Point S2 0.33062
    Daily Pivot Point S3 0.31623
    Daily Pivot Point R1 0.38783
    Daily Pivot Point R2 0.40222
    Daily Pivot Point R3 0.42363

    IOT/USD

    Overview
    Today last price 0.39164
    Today Daily Change 0.01820
    Today Daily Change % 4.87
    Today daily open 0.37344
     
    Trends
    Daily SMA20 0.30903
    Daily SMA50 0.26773
    Daily SMA100 0.24026
    Daily SMA200 0.22329
     
    Overview
    Today last price 0.39164
    Today Daily Change 0.01820
    Today Daily Change % 4.87
    Today daily open 0.37344
    Overview Overview Overview Today last price 0.39164 Today Daily Change 0.01820 Today Daily Change % 4.87 Today daily open 0.37344 Today last price 0.39164 Today last price0.391640.39164 Today Daily Change 0.01820 Today Daily Change0.018200.01820 Today Daily Change % 4.87 Today Daily Change %4.874.87 Today daily open 0.37344 Today daily open0.373440.37344
     
    Trends
    Daily SMA20 0.30903
    Daily SMA50 0.26773
    Daily SMA100 0.24026
    Daily SMA200 0.22329
    Trends Trends Trends Daily SMA20 0.30903 Daily SMA50 0.26773 Daily SMA100 0.24026 Daily SMA200 0.22329 Daily SMA20 0.30903 Daily SMA200.309030.30903 Daily SMA50 0.26773 Daily SMA500.267730.26773 Daily SMA100 0.24026 Daily SMA1000.240260.24026 Daily SMA200 0.22329 Daily SMA2000.223290.22329
     
    Levels
    Previous Daily High 0.38081
    Previous Daily Low 0.34501
    Previous Weekly High 0.32835
    Previous Weekly Low 0.2757
    Previous Monthly High 0.30525
    Previous Monthly Low 0.22143
    Daily Fibonacci 38.2% 0.36713
    Daily Fibonacci 61.8% 0.35869
    Daily Pivot Point S1 0.35203
    Daily Pivot Point S2 0.33062
    Daily Pivot Point S3 0.31623
    Daily Pivot Point R1 0.38783
    Daily Pivot Point R2 0.40222
    Daily Pivot Point R3 0.42363
    Levels
    Previous Daily High 0.38081
    Previous Daily Low 0.34501
    Previous Weekly High 0.32835
    Previous Weekly Low 0.2757
    Previous Monthly High 0.30525
    Previous Monthly Low 0.22143
    Daily Fibonacci 38.2% 0.36713
    Daily Fibonacci 61.8% 0.35869
    Daily Pivot Point S1 0.35203
    Daily Pivot Point S2 0.33062
    Daily Pivot Point S3 0.31623
    Daily Pivot Point R1 0.38783
    Daily Pivot Point R2 0.40222
    Daily Pivot Point R3 0.42363
    Levels Levels Levels Previous Daily High 0.38081 Previous Daily Low 0.34501 Previous Weekly High 0.32835 Previous Weekly Low 0.2757 Previous Monthly High 0.30525 Previous Monthly Low 0.22143 Daily Fibonacci 38.2% 0.36713 Daily Fibonacci 61.8% 0.35869 Daily Pivot Point S1 0.35203 Daily Pivot Point S2 0.33062 Daily Pivot Point S3 0.31623 Daily Pivot Point R1 0.38783 Daily Pivot Point R2 0.40222 Daily Pivot Point R3 0.42363 Previous Daily High 0.38081 Previous Daily High0.380810.38081 Previous Daily Low 0.34501 Previous Daily Low0.345010.34501 Previous Weekly High 0.32835 Previous Weekly High0.328350.32835 Previous Weekly Low 0.2757 Previous Weekly Low0.27570.2757 Previous Monthly High 0.30525 Previous Monthly High0.305250.30525 Previous Monthly Low 0.22143 Previous Monthly Low0.221430.22143 Daily Fibonacci 38.2% 0.36713 Daily Fibonacci 38.2%0.367130.36713 Daily Fibonacci 61.8% 0.35869 Daily Fibonacci 61.8%0.358690.35869 Daily Pivot Point S1 0.35203 Daily Pivot Point S10.352030.35203 Daily Pivot Point S2 0.33062 Daily Pivot Point S20.330620.33062 Daily Pivot Point S3 0.31623 Daily Pivot Point S30.316230.31623 Daily Pivot Point R1 0.38783 Daily Pivot Point R10.387830.38783 Daily Pivot Point R2 0.40222 Daily Pivot Point R20.402220.40222 Daily Pivot Point R3 0.42363 Daily Pivot Point R30.423630.42363

     

     

    From: FXSTREET