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IOTA Price Analysis: IOT/USD Consolidate Price After Latest Recovery With a Released Update to IOTA Plus

*IOT/USD is trading at $0.1150 after rising more than 3% in the past 24 hours
*IOT/USD consolidate price after the last recovery
*IOTA developer Marlon Morales releases update for IOTA Plus

IOT/USD Daily Chart: Bearish

IOTA continues to fuel a $0.1056-level uptrend of the recent confluence zone; which started after last week’s price dip to $0.0595 level. The initial reflex reversal from the acute losses first spiked marginally toward the level of $0.1479. The momentum was unsustainable however, allowing bearish action to take center stage in the last few days.

The Altcoin slipped from $0.1242 to $0.1122 low intraday price level at the time of publishing. The near-term support level of $0.1056, however, is likely to keep the price mark intact as the overall recovery followed in the market received the much-required boost for the altcoin beyond $0.10 level.

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