- IOTX crypto price has risen by 336% since October.
- The IOTX price hasn’t slipped below the 100-Day EMA which indicates the bulls’ dominance.
- IoTeX price has declined by 27% in the last 10 days.
IoTeX price has witnessed slow and steady growth since October and has gained approximately more than 300%. The price has been forming new higher highs and higher lows. According to our analysis, the IoTeX price prediction for this month will remain positive.
Since February, the IOTX crypto price has been rising through a trendline and currently, it has taken support on the trendline and has risen by 10% in the last 3 days. For the last 3 sessions, the price has been defending the trendline but this time it is facing resistance from the 20-Day exponential moving average.
When writing, the IOTX price was trading at $0.068 with an intraday loss of 0.36%. The market capitalization is $648.25 Million and the 24-hour trading volume is $27.51 Million. The circulating supply is 9,441,378,959 IOTX and the fully diluted market cap is $686.21 Million. The total supply is 9,441,378,959 IOTX and the maximum supply is 10,000,000,000 IOTX.
IoTeX Price Prediction Based on the Price vs Volume Graph
According to the graph of price and volume, the trading volume has decreased from $113 Million to $27 Million in the last 10 days and the price has also declined. Currently, the IOTX price is rising but volume is not cooperating, this may trigger fake buying momentum. Suppose a sudden volume change occurs, then the price may continue on the bullish trend.
IoTeX Crypto Price is in Up Trend; Will It Continue Surging?
On a daily time frame, the IoTeX price has been in the bulls’ grip and they have been dominating for the last few months. Since October, the IOTX crypto price has outperformed but the trend has disturbed from the $0.0900 hurdle and has declined by 25% in just a few days.
Currently, the IoTeX crypto price has been struggling between the 20-Day and trendline. Suppose the trading volume decreases and the IOTX price slips below the trendline then selling pressure can be expected. Below the trendline, investors may prefer to book profit which may result in bearish momentum.
On the other hand, if the IoTeX price manages to surpass the 20-Day exponential moving average and sustains then buyers may show their faith in the trend. It may help to trigger a pullback.
Based on the technical indicators, the IOTX price is trading over the significant moving average which shows the bulls’ strength. RSI is at 52 which has rapidly declined from the overbought zone.
IoTeX Price Analysis Over 4-H Timeframe
In a 4-H time frame, the IOTX crypto price has declined for the last few days. It has been declining through a falling trendline and recently it has triggered a breakout. If the price sustains out of the channel then buying momentum for the short term can be seen. If the investors show their faith then the price may approach the last swing high in the next few weeks.
Suppose the IoTeX price fails to sustain the $0.0700 and slips below the $0.0680 mark then buyers may lose the momentum and the price may perform negatively. If the price fails to defend the $0.0500 mark then the previous gains can be converted into loss, and bearish momentum for the long term can be seen.
Conclusion
IOTX crypto has shown significant growth since October, with a 336% increase in price. The current trend indicates bullish dominance, despite a recent 27% decline. The price is currently facing resistance from the 20-Day exponential moving average, and the trading volume has decreased, potentially leading to a fake buying momentum. The price is struggling between the 20-Day EMA and the trendline, and a slip below the trendline may result in selling pressure.
Technical Levels
Resistance Levels: $0.0700 & $0.0875
Support Levels: $0.0620 & $0.0550
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.