Is IoTeX (IOTX) Heading the Right Direction Wednesday?

Wednesday, May 11, 2022 09:21 AM | InvestorsObserver Analysts

InvestorsObserver gives IoTeX a weak long-term technical score of 31 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. IOTX at this time has a superior long-term technical analysis score than 31% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover coins that have bottomed out.

InvestorsObserver is giving IoTeX a 31 Long-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

IOTX is currently -$0.0469092 (-60.34%) below its 100-day moving average price of $0.077746354 with its current price of $0.030837178. Meanwhile, IoTeX is $0.0179456 (-85088.01%) above its 52-week low price of $0.012891550 and -$0.23025516 (-3818.25%) below its 52-week high of $0.261092335. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 31. Trends for the long-term trading history of IoTeX suggest that traders are currently bearish on the coin. IoTeX currently has a total market cap of $294,210,706.24 to go along with its average daily volume of $378,828,446.40 worth of the currency over the past seven days. IOTX's volume is below its seven day average as of the past 24 hours, with 40,804,711.67 exchanged in that period. This coin'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

Technical analysis of IoTeX over the past year results in the crypto receiving a a weak long-term technical score of 31 as its price movement in that time has given traders reason to be bearish on the coin in the long-term. Click Here to get the full Report on IoTeX (IOTX).