IoTeX (IOTX): Does it Score Poorly on Short-Term Trading Metrics Tuesday?

Tuesday, May 10, 2022 08:49 AM | InvestorsObserver Analysts

IoTeX receives a weak short-term technical ranking of 26 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. IOTX has a superior recent technical analysis than 26% of coins based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving IoTeX a 26 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on IoTeX!

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Trading Analysis

IoTeX is $0.007553 (19.93%) higher than its 30-day low price of $0.037890711 while also -$0.037452 (-45.18%) lower than its high of $0.08289572 from the past month of trading. Meanwhile, IOTX's current price of $0.045443512 is under its average price of $0.067108727 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of IoTeX suggest that traders are currently bearish on the coin. IOTX has a average market cap compared to the majority of coins with a total market value of $433,566,515.75. The market valuation for IoTeX is relatively average due to the largest 100 cryptos having a market cap above $1 billion and IOTX sits underneath that mark but remains above $100 million in market capilization. IoTeX's average volume is average as $455,029,012.52 worth of the coin is typically traded over a 24 hour period. The volume for IOTX is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours IOTX's volume is below its average with $65,174,000.74 exchanged. IoTeX's subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

IoTeX's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the coin's short-term movement. Click Here to get the full Report on IoTeX (IOTX).