In this IoTeX technical analysis, we will examine the current price action, trading volume, key levels and indicators for IOTX-USDT. IoTeX (IOTX) is a decentralized, open-source blockchain platform that enables the Internet of Things (IoT) ecosystem to build and deploy secure, scalable, and interoperable applications. With its unique proof-of-contribution consensus algorithm, IoTeX empowers IoT devices to participate in the network and earn rewards for their contributions. By leveraging blockchain technology and smart contracts, IoTeX aims to create a more secure and efficient IoT ecosystem that benefits both device manufacturers and users alike.
IoTeX Price Overview:
As of December 05, 2023, IoTeX is trading at approximately 0.03983 USDT. Let’s dive into the detailed price action for IOTX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.04042 |
| High (H) | 0.04888 |
| Low (L) | 0.03838 |
| Close (C) | 0.03983 |
| Volume (C) | 1,539,003,110.00 |
- Open (O): The opening price for today’s trading session was approximately 0.04042 USDT.
- High (H): IoTeX reached a daily high of around 0.04888 USDT.
- Low (L): The daily low for IOTX-USDT was approximately 0.03838 USDT.
- Close (C): At the time of analysis, IoTeX is trading near its daily close of 0.03983 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.46% |
| 3D Change (%) | 47.85% |
| 7D Change (%) | 62.44% |
| 30D Change (%) | 62.57% |
| 90D Change (%) | 163.60% |
| YTD Change (%) | 89.94% |
Over the past three days, IOTXUSDT has risen by approximately 47.85%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 62.44%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with IOTXUSDT maintaining an upward trend of approximately 62.57%, despite intermittent fluctuations. Examining the last 90 days, IOTXUSDT has witnessed substantial rise of approximately 163.60%, reflecting strong long-term confidence. Year-to-date, IOTXUSDT has steadily increased by around 89.94%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
IoTeX Live Chart:
You can access a live price chart for IOTX-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.71928.
- Momentum score is 0.62571.
IOTX USDT Technical Analysis
IoTeX Trading Volume:
The trading volume for IoTeX (IOTX) over the past 24 hours has been significant, with approximately 1,539,003,110.00 USDT traded against IOTX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): IOTX is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): IoTeX is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for IOTX-USDT is currently in the extreme zone, around 72.89479. This suggests that IoTeX is in overbought territory.
Analysis from TradingView:
Our Key Takeaways:
IoTeX (IOTX-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the extreme RSI and significant trading volume are extreme signals for potential correction movement.
Explore IoTeX’s (IOTXUSDT) potential for growth at 3.98e-02 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.
Don’t overlook our detailed insights on IOTX BTC IoTeX Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.