IOTA Plots Ethereum Alignment and Traders Are Suddenly Bullish

IOTA, the once-popular cryptocurrency, has recently made a comeback with a 10% gain after co-founder Dominik Schiener confirmed the upcoming launch of the IOTA Ethereum Virtual Machine (EVM) and the release of IOTA’s new alpha version. Schiener also advised IOTA holders to stake their tokens on the IOTA EVM by the second quarter, which sparked excitement among traders. The recent release of the alpha version of iota-core by the IOTA Foundation has further improved the protocol parameters and network usability. While the alpha release may not have many updates, it is still considered significant by the community. After facing a bearish trend since December 2023, IOTA has begun to recover, climbing to $0.24 from its monthly low of $0.19. Technical indicators suggest a potential bullish scenario, with a target price near $0.263. However, if the bearish trend continues, the price could fall back to $0.23, with support at $0.195. Overall, the return of IOTA to the crypto community has generated optimism among traders.