Minter
Quack AI
NEAR Protocol
Sui
Hyperliquid
Cardano
Raydium
- The Iotex coin has breached the falling trendline after overcoming from the sideways range and now the price is retesting the key $0.12 resistance.
- The coin price is trading below the 100-day moving average and on the flip side, the price is above 20,50 and 200 MAs in day price chart.
- IOTX/BTC pair price is favoring the bulls by 13.4% at 0.00000271 satoshis.
The IOTEX token has successfully escaped the negative trendline, as shown by the ATH indicator. The currency has dropped about 84% of its value between the ATH and the latest low of $0.62. The IOTX coin is now following the upward trend line after breaching the box pattern (green) and reflecting 8-green candles throughout the week in addition to yesterday’s red candle. The IOTX coin, on the other hand, is up 12.5 percent at $0.11682.
Bears are confronted with a bullish resistance at $0.120; in order to maintain good bullish momentum, buyers must keep the coin’s value above it. On the negative side, the IOTX coin has a solid support level of $0.070. However, the cryptocurrency’s trading volume has increased by 16 % in the last 24 hours. The volume-to-market-capitalization ratio stands at 0.1523. Additionally, the coin price is barely below the 100-MA line, and the remaining MAs (such as the 20, 50, and 200 MAs) are below it.
For the short-covering, bulls will have to surpass the $0.120 hurdle
In the terms of daily price chart, IOTEX coin price with the Bitcoin pair has been trading above the Bollinger bands indicator and retesting the key resistance at 0.00000275 satoshi. However, the IOTX/BTC pair price is trading in the green zone by 13% at 0.00000269 satoshis. At time buyers have a good shot to pull the pair price above the recent resistance level then we could see the solid bullish momentum till the ATH mark ever.
The supertrend indicator has been showing a bullish indication for the past 4-days and it seems that buyers are taking advantage of this sign. The RSI is moving towards overbought territory and a sharp bounce from 30-mark. Furthermore, the average directional index is at 25-mark, reflecting slightly bullish momentum.
Conclusion
It remains to see if buyers will break this following resistance or not. If bulls succeed in closing the present price candle above this hurdle, we could expect bulls to run till ATH level.
Support level- $0.063 and $0.080
Resistance level- $0.120 and $0.150
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
