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- 1 The IOTA crypto price was $0.338 post a swift intraday gain of 1.20%.
- 2 Technical indicators showcase a bullish outlook above the 20 and 50-Days EMAs.
The IOTA price exhibits volatility with major ups and downs in recent sessions. The bulls and bears are in a tough fight as the price is at a crucial zone. Fresh upside moves may be observed on the charts if the bulls conquer the recent hurdle.
Moreover, the $0.35 level is acting as a crucial zone, the breakout of which, may validate the termination of a correction phase. The crypto may experience a short term bull run once the hurdle is surpassed.
Furthermore, the bulls are attempting to break out of the $0.35 level whereas the bears are busy trying to defend the recent supply zone. The price is approaching the supply zone taking multiple supports from the dynamic 20 and 50-Day EMAs.
At press time, IOTA crypto was hovering near $0.338, recording a swift intraday gain of 1.20%. Any breakout on the higher side may unlock price potential till the higher levels.
However, if the bears successfully defend the $0.35 level, then the price may reverse its course. It may indicate the resumption of the short-term correction phase and the crypto may drop towards the demand zone.
IOTA Crypto Volume Analysis
The volume analysis shows that the IOTA crypto received $106.84 Million volume in the last 24 hours, with a drop of 25.13% as compared to the previous day. The drop in volume indicates the losing interest of buyers at the higher levels which decreases the chances of further breakout.
It has a live market capitalization of $1.06 Billion and ranks 92nd in the overall crypto market. Also, the volume to market capitalization ratio is 13.13% indicating mild volatility in the crypto.
IOTA Price Indicator Analysis
The key exponential moving averages are acting as a dynamic support and supporting the price at every dip. The short term outlook of IOTA cryptocurrency is positive as the price is hovering above all the 20, 50, and 200-Days EMAs.
Also, the RSI line was placed at 73.17, and the 14-day SMA line was placed at 65.20 points. Both the lines were hovering above the mean line, indicating positivity in the short term trend.
IOTA Price Prediction March 2024
The most positive view of our analysts assumes the price could resume its way up to $0.4 and $0.45 if it breaks higher above the $0.35 level.
On the other hand, the bearish outlook of the analysts assumes the price may break below the recent support of the 20-day EMA, after which it may retrace the 50 and 200-Day EMAs.
IOTA Crypto Price Prediction 2024
The price analysis for the year 2024 is that the IOTA token could reach a high of $0.659, suggesting a potential gain of over 96.4% if the most favorable conditions prevail. Moreover, the less optimistic outlook of the analysts hopes for the crypto to attain a high of $0.50.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
