IoTeX Price Analysis: Will IOTX Surge to hit $0.032


  • IOTX rose 70% in seven days.
  • Current IoTeX Price is 0.074 dollars
  • IOTX’s intraday volume stands at $127,795,109.00.
  • IOTX faces medium-term resistance at $0.034.

29 February 2024 : In this article we will walk you through IoTeX price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for IoTeX, Is IOTX a good investment? IoTeX support & resistance levels etc. But before diving deep into the IOTX technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,259,366,785,981. The total trading volume stands at $156,593,147,955. Bitcoin shares 53.23 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $61,190.43 level after a decline of -0.19%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.41 percent reaching to $3,330.46 during the previous 24 hours.
While publishing this blog, BNB traded at $398.58, following a price change of -3.3%within the same time frame. SOL the native coin of Solana is up by 6.73 and currently trading at $124.73. Additionally, XRP reached $0.59 after seeing a uplift of 2.08% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

IoTeX Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of IoTeX (IOTX)

IOTX Resistance Levels IOTX Support Levels
Resistance Level 1 $0.032 Support Level 1 $0.029
Resistance Level 2 $0.034 Support Level 2 $0.028
Resistance Level 3 $0.035 Support Level 3 $0.026

IoTeX Performance

The current IoTeX price is $0.074, with a trading volume of $127,795,109.00 in the past 24-hours. Currently, IOTX is up by 53.47% since yesterday with a market capitalization of $703,009,668.00 USD.

IoTeX Price Analysis

IOTX price analysis for 29 February 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the IoTeX.

Moving Averages Price Indicator
Simple Moving Average (10) 0.031 Buy
Exponential Moving Average (10) 0.031 Buy
Simple Moving Average (20) 0.032 Buy
Exponential Moving Average (20) 0.032 Buy
Simple Moving Average (50) 0.035 Buy
Exponential Moving Average (50) 0.034 Buy

While IOTX’s Williams %R indicator is at -75.51 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying consolidation phase while trading at 43 and is trying to break out of the neutrality zone. The MACD line is standing below of the signal line after a crossover. IoTeX investors need to wait for any directional change over the daily chart.

Conclusions

IoTeX market shows a bullish signs, and bulls can push IOTX higher in the coming sessions. IOTX has a resistance at $0.032, beyond which the coin would move toward next crucial resistance at $0.034.