IOTX/USDT Posts Only Minimal Gains

As of the time of writing, the IOTX/USDT market has seen only minimal gains. The token recorded a 2.45% price increase over the past 24 hours. Currently, the token’s price action is positioned just above a key technical level, which could result in an upward rebound if the support level holds.

IoTeX Statistics

Current Price: $0.01952

Market Capitalization: $184.9M

Circulating Supply: 9.44B IOTX

Total Supply: 10B IOTX

CoinMarketCap Rank: 254

Key Price Levels

Resistance: $0.02000, $0.02250, $0.02500

Support: $0.01750, $0.01500, $0.01250

IOTX/USDT Slows as it Approaches $0.01915

On the daily chart, the IoTeX market has recently experienced a steep retracement from higher price levels. However, once the price action hit the upper boundary of the Bollinger Bands, it reversed downward. Price movement has since slowed as it approaches the middle band of the Bollinger indicator. The current price candle appears small and hovers just above the middle Bollinger Band.

The Moving Average Convergence Divergence (MACD) lines are now positioned above the equilibrium level. The most recent MACD histogram bars are pale green, and the MACD terminal appears slightly erratic due to the ongoing price pullback.

IoTeX Seems Pressured

Price action in the IOTX/USDT pair appears to be clinging to the lower boundary of the Bollinger Bands. The current session candle is visible and somewhat pronounced, yet it still hovers near the lower band. Similarly, the MACD lines are trending downward toward the equilibrium level, with the most recent histogram bar turning pale red.

Technically, this indicates that bearish momentum is weakening, though it remains present. If the market is to maintain bullish momentum, favorable fundamentals will be essential. Nonetheless, traders may anticipate a potential rebound toward the $0.02100 price level, given the token’s current position near the lower Bollinger Band.

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