IOTA (IOT) experienced a 6.0% rise to $0.3420 this week, showing a robust performance despite a 21% slump to $0.2679 on Tuesday. The altcoin appears to be benefiting from the rally in Bitcoin (BTC). Bitcoin reached a new all-time high at $69,340 per coin, but quickly retraced by 13.0% to $59,665. IOTA mirrored this movement but with a more significant swing, rising by 13.0% to $0.3840 before a subsequent 30.0% decline.

While IOTA's movements may not precisely mirror Bitcoin's fluctuations, it highlights the potential for true altcoins like IOTA to continue their upward trajectory even without direct support from the major cryptocurrency. If IOTA can breach the resistance at $0.3500, it may pave the way for further gains toward $0.4000.