IOTA has emerged from a falling wedge pattern, signaling a potential bullish trend after a period of decline. The Total Value Locked (TVL) in IOTA has surged to $18 million, up from nearly zero, fueled by a 272% increase in user activity and developer engagement in recent weeks.
Despite the positive momentum, IOTA's price remains below key moving averages, with the 50-day Simple Moving Average (SMA) at $0.1456 identified as a crucial level for sustained growth. Analysts indicate that if the breakout maintains its strength, IOTA could test the resistance zone between $0.155 and $0.160.
IOTA Breaks Out of Falling Wedge, TVL Reaches $18 Million
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