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Is IoTeX (IOTX) Heading the Right Direction Friday?

Friday, September 23, 2022 02:55 PM | InvestorsObserver Analysts
Is IoTeX (IOTX) Heading the Right Direction Friday?

InvestorsObserver gives IoTeX a strong short-term technical score of 86 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. IOTX has currently traded better than 86% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

Short-Term Technical - 86
InvestorsObserver is giving IoTeX a 86 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on IoTeX!

Trading Analysis

IoTeX is $0.003321 (12.64%) above its 30-day low of $0.026271394 while -$0.004975 (-14.39%) below its 30-day high of $0.03456708. In addition, IOTX's current price of $0.029592100 is under its 30-day moving average price of $0.029915820, leading to a strong short-term technical score. Overall the recent trading history of IoTeX suggest that investors are bullish on the coin at the moment.
IOTX has a average market cap compared to the majority of coins with a total market value of $282,331,696.72. 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 $100,408,950.85 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 $15,677,188.15 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 strong short-term technical score due to recent trading giving more bullish signals for traders on the coin's short-term movement. Click Here to get the full Report on IoTeX (IOTX).

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