Previous article IOTA price taps 1-month high as Bitcoin retests $28k Next article Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Home Latest Cryptocurrency News IOTA price taps 1-month high as Bitcoin retests $28k IOTA price taps 1-month high as Bitcoin retests $28k By Benson Toti - min read 30 May 2023 IOTA price rose as high as $0.22 as Bitcoin retested $28k for the first time in weeks. Ethereum price also rose on Tuesday, breaking above $1.9k as sentiment on US debt ceiling deal buoyed markets. IOTA price is out of a descending triangle but needs to hold above $0.20 to maintain the upside advantage. IOTA price rose as high as $0.22 on Tuesday as sentiment flipped positive for the Tangle token. As of writing, the IOTA/USD pair was trading around $0.21 about 5% up in the past 24 hours and over 20% up in the past month. Indeed, IOTA’s gains over the past day had seen the token tap a one-month high, with the last time it traded above $0.22 being in mid-April. IOTA gains as Bitcoin tests $28k The gains for IOTA coincided with an uptick for Bitcoin price, with BTC surging to above $28k for the first time in nearly three weeks. The upside for the bellwether cryptocurrency happened amid a flip in investor sentiment across the broader market as the US struck a deal to raise its debt ceiling and avoid default. Ethereum notched gains to above $1,900 and XRP broke above $0.50 as the community eyed the outcome of the Ripple vs. SEC case. IOTA price outlook: What next for IOTA/USD? The technical perspective for IOTA price shows a consecutive four-day bounce on the daily time frame. IOTA/USD has broken out of a descending triangle that had price restricted below $0.20. But as can be seen on the chart below, the RSI has pierced the overbought line and indicates the potential for a retest of the trendline. IOTA price daily chart. Source: TradingView The robust horizontal hurdle near $0.23 is also key to bulls’ ambitions – break out here and they could target a 20% ride to $0.28. While the MACD is positive and indicates momentum remains with the buyers, failure to turn $0.20 into support could welcome bears to target $0.17. Share this article Categories Markets Tags BTC ETH IOTA News