IOTA Price Analysis: 30 March

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice.

IOTA (IOTA/USD) has recorded a rollercoaster ride in terms of price fluctuations over the past year. The token was trading at $0.79 on 1 March 2022, $0.169 on 1 January 2023, and $0.242 on 1 March 2023.

Realistic or not, here’s IOTA’s market cap in BTC’s terms

At press time, IOTA/USD was valued at $0.211 after posting 6% gains in the last 24 hours, retracing from $0.217 to $0.211. This analysis will examine key technical indicators on the 1-day timeframe, including the Relative Strength Index (RSI), Bollinger Bands, On-Balance Volume (OBV), Chaikin Money Flow (CMF), Moving Averages, MACD, Money Flow Index (MFI), and Parabolic SAR.

Source: IOTA/USDT on TradingView

IOTA is a crypto token that has a positive correlation with Bitcoin (BTC) on the price charts. With Bitcoin facing strong resistance at $28.7K, IOTA could record a pullback. The market sentiment has been bullish in March, but there’s a possibility of a correction south for both BTC and IOTA.

Key Highlights –

Considering the technical indicators, IOTA/USD seems to be facing potential challenges at significant resistance levels of $0.24 and $0.277. The 20 and 50 SMA levels are close to the press time price, indicating mixed sentiments in the short term. The bearish MACD crossover was a sign that the bears have taken control of the market.

How much are 1, 10, or 100 IOTA worth today?

The RSI stood at 48.3, indicating a neutral market sentiment for IOTA/USD. The Bollinger Bands were converging, suggesting that a price breakout could be imminent in either direction. The OBV remained flat at 2.8 billion for the past two weeks, highlighting no significant change