IOTA Is Looking towards $0.3000
IOTA (IOT) is down 4.1% this week to $0.1955, underperforming the broader crypto market, where Bitcoin (BTC) has slipped 1.5% to $111,255. The pullback came despite a strong buy signal earlier in the week, when Fed Chair Jerome Powell suggested a potential rate cut in September. That sparked an initial surge, with BTC up 4.0% and IOT jumping 9.4% to $0.2138. However, momentum faded after a dormant “whale” unexpectedly sold $2.7 billion worth of BTC, dragging the entire crypto market lower. The same whale rotated into Ethereum (ETH), driving it up 34% to $4,590 and briefly setting a new all-time high at $4,955.
The latest decline in IOT looks more technical than fundamental, suggesting the rally could soon resume. A move above $0.2000 would be the first step, opening the way for a possible climb towards $0.3000.
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