Leading DAG-based Layer-1 solution IOTA price has exploded +44% after the Iota Foundation launched as a new $100M entity in Abu Dhabi, but with markets caught off-guard, is it too late to buy IOTA?
Despite a tumultuous 2023, which has seen IOTA price struggle to break high in face of capstone moving average resistance, the sensational breakout pump yesterday has left markets in awe.
Excitement stems from the launch of the IOTA Foundation entity in the UAE, an initiative which has the stated aim of helping to convert real world assets into digital ones.
IOTA is the first #DLT Foundation regulated with @ADGlobalMarket in #AbuDhabi 🇦🇪! The new #IOTA Foundation will be seeded with over $100 million in $IOTA tokens to support and accelerate the growth of the IOTA ecosystem.https://t.co/7NYe2L5RFs
🧵⬇️ pic.twitter.com/DZUHjcm2sV— IOTA (@iota) November 29, 2023
The $100M investment, funded by IOTA token seeding, comes as a vote of confidence after IOTA became the first blockchain company to be approved by regulators on the Abu Dhabi Global Market (ADGM) after the finalization of crypto regulations earlier this month.
IOTA Price Analysis: Is It Too Late to Buy IOTA After $100M Foundation Launch in Abu Dhabi?
As price action reels from yesterday’s explosive pump, IOTA is currently trading at a market price of $0.22 (representing a 24-hour change of -11.67%).
The -22% retracement move comes after the +44% IOTA price pump was stalled by long-time frame upper trendline resistance – posting a local top at $0.29.
Catalysed by the IOTA Foundation news, the magnificent upside move coincided with a bounce off the 200DMA (currently stood at $0.17).
Bullish posturing has been in the works for weeks now, with the 20DMA (current at $0.18) forming a golden cross over the 200DMA on November 13.
Now fighting to consolidate new-found explosive gains, IOTA price is currently seeking to find a local support – although there are few historical footholds in the ongoing range.
This exposes IOTA price to downside risk, and this sentiment is backed by the RSI which signals bearish at 62.86 – signalling further potential for retracement.
Meanwhile, the MACD remains marginally bullish at 0.0042, suggesting bullish momentum remains after the announcement.
Overall, IOTA seems bold but vulnerable here, the explosive move up shows substantial market appetite, but a lack of localized support for a period of consolidation could create problems.
IOTA price is therefore left scrambling for a higher support level at $0.25 (a potential +11.26%).
While further downside could see IOTA price risk a drop to $0.197 (a possible -12.33%).
Risk: reward for IOTA price consequently stands at 0.91, a bad entry at the volatile tail end of a breakout rally, suggesting too late to buy on the short-time frame.
But while IOTA offers a poor entry at this point, another opportunity emerges in a new GambleFi presale that is skyrocketing on the promise of replicating Rollbit’s success.
Top IOTA Price Move Alternative? This GambleFi Crypto Presale Just Surged to 3.1M Raised
As Telegram trading bots and GambleFi dominate September’s narratives, the TG.Casino ($TGC) presale is gaining significant attention – racing to $3,168,417 raised in just a month, here’s why it should be on your radar.
TG.Casino isn’t just another quick Telegram bot pump-and-dump it’s an intricately crafted ecosystem that marries the thrill of the crypto casino world with the decentralized edge of blockchain.
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The ease of use, amplified by a no-KYC protocol, makes it an alluring proposition for both novices and crypto veterans with easy onboarding ensuring a seamless road to new user growth.
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While the $TGC token not only facilitates instant transactions but also serves as the beating heart of this dynamic ecosystem.
Biggest GambleFi Presale TG Casino Presale: TG.Casino APY Outperforms IOTA Price Pump
The presale is where things get even more intriguing as the offered staking APY is nothing short of spectacular, standing proudly at 191%.
Given that over a million tokens have been staked within a day of the presale launch, the momentum is palpable.
And a well-conceived buyback mechanism ensures price stability and regular rewards, a win-win for the community.
The $TGC token’s utility is another aspect to spotlight – beyond its primary function in the casino world, its adaptability – be it swapped for gaming credits or other cryptos – adds layers to its potential growth.
Its role in transactions, from deposits to withdrawals, signifies its pivotal role in the TG.Casino framework.
How to Buy TG Casino Early?
Step 1 – Go over to their official website
The first thing you want to get correctly is going over to their official website.
Step 2 – Create a Crypto Wallet
You need to set up a crypto wallet, and it’s important to chose a wallet that supports ERC-20 tokens as this is TGC Standards.
Step 3 – Purchase ETH or USDT
Next is to purchase some Ethereum (ETH) or Tether (USDT), as these are the tokens used to exchange into TGC.
Step 4 – Connect Wallet to Presale Dashboard
Go to TG.Casino’s website and click on the ‘Connect Wallet’ button. A pop-up box will appear, in which investors can choose their wallet provider and link their wallet to the presale dashboard.
Step 5 – Buy TG.Casino Token
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Step 6 – Claim TG.Casino Token
Once TG.Casino’s presale has ended, there will be a Token Generation Event (TGE), where investors can claim their purchased tokens by clicking the ‘Claim’ button on TG.Casino’s homepage. That’s all for how to buy TG.Casino.
TG Casino’s Unrivalled Tokenomics Could Trigger Biggest GambleFi Moonshot
To wrap it up, TG.Casino ($TGC) presale is not just an opportunity; it’s a front-row ticket to the future of Telegram GambleFi.
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Its blend of a comprehensive ecosystem, enticing financial benefits, and user-centric approach make it a tantalizing prospect. But as always, arm yourself with research, and here’s to successful ventures ahead!
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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