The IoTeX token has shown up on the radar today as the second-best-performing coin in the crypto market as of the time of writing. However, considering how far the price of this coin has fallen, one may still conclude that price action may still be headed downhill despite the performance seen today.
IOTX Statistics
Current Price: $0.00836
Market Capitalization: $78.67M
Circulating Supply: 9.44B
Total Supply: 9.44B
CoinMarketCap Rank: 329
Key Levels
Resistance: $0.00900, $0.00950, $0.01000
Support: $0.00800, $0.00750, $0.00700
IOTX Generally Still Lacks Bullish Outlook
The IoTeX token’s price has once more retreated below the 9-day Exponential Moving Average. This can be observed on the daily chart, as the last price candle has appeared red and has placed the price of the token below the 9-day EMA curve.
Meanwhile, the lines of the SRSI indicator can be seen rising steeply upward into the overbought region. This seems largely due to the previous consolidations below the 9-day EMA curve. As such, upside movement in this market still appears quite weak and may not endure.
IoTeX Struggles to Find Footing
Even on the IOTX 4-hour market, it can be perceived that price activity has descended below the 9-day EMA curve. The last price candle on this chart is a green but heavily compressed one, bringing the token to now trade below the 9-day EMA curve.
Also, the SRSI indicator lines can be seen to have already taken to a bearish course following a downward crossing at the 80 mark of the indicator. Therefore, this market may soon test the support at the $0.00800 mark.
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