IOTA NEWS
IOTA, IOT FIRM EVRYTHNG PARTNER TO FOSTER TRANSPARENCY FOR SUPPLY CHAIN STAKEHOLDERS AND USERS.
Evrythng, a software firm based in London, San Francisco and New York, has reportedly announced a partnership to combine and apply their distributed ledger and IoT technologies in a bid to provide greater transparency for consumer goods chain of supply.
According to reports on April 17, the Iota and Internet of Things (IoT) firm is focused on using IoT and DLT technology to build interactive, unique and trackable characters for consumer products. Their aim is to foster greater clarity for both supply chain stakeholders and users.
The partnership will reportedly see Evrythng’s Blockchain Integration Hub spread to include integrations with Tangle, Iota’s distributed ledger protocol.
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Given the dependence on centralized intermediaries that can likely overlook or tamper with data on products’ sourcing and provenance, both partners pinpoint the absence of transparency and trust as the major loophole that plagues the current supply chain system for consumer goods,
The partnership aims to address these challenges by including Iota integrations within the Evrythng Blockchain Integration Hub, and leveraging on its trusted and decentralized environment, and feeless micro-transactions structure.
A post published by Iota on its blog on April 17 outlined the strategies the two companies have been trailing, whereby data is gathered and attached to a products’ electronic identity, which is then simultaneously marked and stored on Tangle. According to the post, users will be capable of scanning the digitized products with a smartphone to show important data.
Vacation with Nano and Bitcoin superstore
Bitcoin Superstore has announced that through the use of Nano, users can now purchase flight tickets and hotels bookings. The company which is already enabling customers to spend Nano at over 200,000 online retailers, has also revealed that from May upwards, it plans to provide its users with the option of purchasing groceries with Nano.
Nano which was formerly known as Raiblocks has evolved to become one of the top performing cryptocurrencies on the platform since its addition to the Bitcoin Superstore in 2018.
Its advantage over other crutpocurrencies is the ease in which users can make purchases without delay or charges, making it the most usable and functional cryptocurrency in the space today.
Natrium 2.0 is now available on Android — with all new features!
The Natrium team has released the updated Natrium 2.0 app on the Android and iOS platforms. The app which is hailed as one of the most popular Nano community wallets, due to its simple but very functional user interface, released the updated app to the iOS and Android community on Saturday, April 20.
The upgraded app comes with compelling new features and features a move away from the traditional xrb_ prefixes to nano_ prefixes. A new tool for finding and delegating to a new representative is also featured in Natrium 2.0, invariably making the Nano network more decentralized.
NANO NEWS
IOTUSD: Weekly
The weekly chart of the Internet of Things-focused cryptocurrency is in a descending channel built from alternating bullish and bearish divergence patterns on December 17 and April 15 ’19.
A breakout of a bearish accumulation pattern confirmed the bullish divergence, while a bearish accumulation pattern confirmed the bearish divergence as the MACD approached the zero level.
IOTUSD: DAILY
A view from the daily time frame reveals an earlier and steadily growing bullish trend that started from a breakout of bearish accumulation on March 14, followed by similar breakout patterns on March 27 and April 01 ’19. The bullish campaign ended after a double bearish accumulation pattern was signaled on April 09 and 10, with resistance at 0.37483040, followed by a triple bearish accumulation pattern on April 12, 13 and 14 ’19.
The bulls made attempts to restore the bullish campaign by signaling a double bullish accumulation pattern on April 19, however, that later failed to a breakdown of the bullish accumulation support levels.
IOTUSD: H4
The above 4-hour chart illustrates a buildup of the bearish trend, starting from a consecutive bearish hidden divergence on 15 April ’19 11:00 and 18 April ’19 19:00. A breakdown of bullish accumulation on April 23 reinforced the bearish trend causing the price to collapse further by about 24.02%.
NANOBTC: Weekly
During last year’s crypto winter, speculators chose to park their crypto assets in Bitcoins which led to a 94.79% price decline. A breakout of bearish accumulation on August 13 ’18, gave the first signal towards a bottoming of the bearish trend. The surge in bullish volatility, however caused the pair to retrace signaling a double bearish accumulation on September 24 ’18 for a 33.62% drop in exchange rate of the NANOBTC.
The bearish trend retracement was later confirmed by a breakout of bearish accumulation on March 04-11 ’19 for a 44.09% price rally. Meanwhile, the bullish trend comprised of triple bullish accumulation patterns with support at 0.0002545, 0.0002689, and 0.0002876 respectively.
NANOUSD: DAILY
Paired against the USDT, the above chart shows the price of NANO in an ascending channel following a breakout of bearish accumulation on April 08 ’19, a breakdown of bullish accumulation on April 11 ’19 and bearish engulfing pattern on April 24 ’19.
NANOUSD: H1
The above 1-hour chart of NANOUSDT triggered a breakdown of bullish accumulation on April 23, establishing resistance at 1.970 for roughly 20% price decline. Advancing further in time, the pair later signaled a bearish hidden divergence pattern on April 25 causing the price to plummet by another 14.5%.
At press time, the pair is enclosed within resistance and support formed by breakout of bullish and bearish accumulation patterns. A breakout of either of these levels will point towards a continuation of the bearish trend or a switch to bullish trend.
Conclusion
From our analysis, Nano appears to be the stronger of both cryptocurrencies as it shows strong bullish support levels on the monthly charts when traded against the BTC. IOTA, on the other hand, is in a strong bearish trend against the BTC. Only time will tell if we’ll see it recover any time soon.
We’ll update you on any new developments in future posts!
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