Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
The IOTXUSDT market still appears to lack the needed participation that will likely propel the market considerably. The coin has appeared in the second spot on the crypto daily movers list. Technical indications show that the market may present short-term gains, but may not be significant. Let’s delve deeper into the market.
IOTX Statistics:
Current IOTX Value: $0.04937
IOTX Market Cap: $467,429,162
IOTX Circulating Supply: 9,441,378,955
IOTX Total Supply: 9,441,378,955
IOTX CoinMarketCap Rank: 139
Key Price Levels:
Resistance: $0.05000, $0.07000, and $0.08000
Support: $0.4500, $0.3500, and $0.2500
IOTXUSDT Prints Minor Profits Below the GMMA Lines
Price action in the IOTXUSDT market has been able to print some profits even though the market stays below all the Guppy Multiple Moving Average (GMMA) lines. The last price candle on the daily chart has appeared green.
However, we could see that the price candle has an upper shadow, which suggests that downward forces are already acting on price movement. Simultaneously, the Relative Strength Index (RSI) indicator lines are rising upward out of the overbought region. Also, there are no deflections yet on the RSI indicator lines. This suggests that the upward correction may still be intact.
IOTXUSDT Price Action Closes in on a Psychological Price Level
In the IOTXUSDT 4-hour market, we can see that price action has risen past the middle limit of the Bollinger Bands indicator lines. The last price candle can be seen standing just above the middle band of the indicator while appearing green. However, the appearance of the price candle suggests that upside and downward forces are in a face-off at this point.
Also, on the live market, the mentioned price candle keeps changing from green to red, which further confirms the struggle at this point. However, upside forces seem favored, considering the position of price action in this market. This hints that traders who are making bullish speculations using crypto signals targeting price levels around $0.05500 may want to exercise caution.
Trade crypto coins on AvaTrade
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.