- IOTA crypto price is getting bullish responses from the $0.1973 bullish point of interest (POI).
- An increase of 3.15% has been observed in the crypto price during the intraday trading session.
- The trading volume has reached 18.77 million in the last 24 hours, with a 4.52% decline.
Built on Tangle, Iota (IOTA) features unique architecture and an open-source product suite for individuals, businesses, and institutions. It is a distributed ledger technology (DLT) built on a directed acyclic graph (DAG), a multi-dimensional blockchain. The users can exchange data and value on the platform through direct and secure transfers. IOTA provides multiple tools for creating and managing custom layer-2 EVM chains.
Feb, Mar Performance, Market Cap & Supply Changes
IOTA crypto price experienced a positive change in sentiments in February 2024, with an increase of 21.24% in value. The change also positively impacted the next month because of the shift in market sentiments. The cryptocurrency reflected 20.54% positive returns in March 2024.
The price surged to the $0.4204 resistance level and made an opposing rally. However, the cryptocurrency price failed to attract substantial buyers from the $0.2695 bullish point of interest (POI). This resulted in a negative and fearful situation for IOTA buyers, reflecting negative returns in the current month.
The maximum supply of the IOTA tokens is locked at 4.60 billion. The current circulation supply of the tokens is at 3.22 billion IOTAs. The full diluted valuation of the cryptocurrency is estimated at around $1.06 Billion. It has a current market capitalization of $742.22 Million.
Price to Volume and Social Dominance Analysis
IOTA crypto price is not very influenced by the social dominance buzzing around the crypto globe. However, the previous buzzing on the social platforms in December 2023 has impacted the crypto price and volume. Social sentiments are slowly rising, currently covering 0.165% dominance. This can reflect a positive rise in price and trading volume.
Technical Analysis Of Iota (IOTA) Price
The current price slipped below the key exponential moving averages, indicating a shortfall in the current phase. The 50-day EMA can act as a dynamic resistance for the current price.
IOTA price faced strong resistance from the $0.4170 level, making over 50% fall on the $0.1973 key support level. The current price is gaining buyers’ support from the key support level. The price can surge up to $0.4170 resistance if it closes above $0.3297 level. On the other hand, a shortfall can be expected below $0.1973.
The relative strength index (RSI) is moving parallel to the spot price chart, reflecting a neutral perspective in the current phase. The RSI line is at 35.95 below the signal line.
Summary
IOTA price reflected massive upsurges in price before March 2024. Afterward, the cryptocurrency gave an over 50% opposing rally to the $0.1973 key support level. The current price is trading slightly above the $0.1973 support level. IOTA price can surge up to $0.4170 resistance if it has a closing above the $0.3297 level. Below $0.1973, it is likely to drop.
Technical Levels
- Resistance Levels: $0.3297 and $0.4170
- Support Levels: $0.1973 and $0.1566
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.