Is IoTeX (IOTX) Heading the Right Direction Wednesday?

Wednesday, January 11, 2023 09:49 AM | InvestorsObserver Analysts

IoTeX receives a strong long-term technical score of 78 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. IOTX currently holds a superior long-term technical analysis score than 78% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving IoTeX a 78 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 -$0.0003818 (-1.55%) below its 100-day moving average price of $0.024655895 with its current price of $0.024274116. Meanwhile, IoTeX is $0.0054022 (-58159.03%) above its 52-week low price of $0.018871922 and -$0.09620921 (-8279.76%) below its 52-week high of $0.120483324. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 78. Trends for the long-term trading history of IoTeX suggest that traders are currently neutral on the coin. IoTeX has a market capitalization of $228,681,733.82 and a relatively average average daily volume with $65,540,167.52 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, IOTX's volume is below its seven day average with 9,657,749.81 exchanged. 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

IOTX's historical trading over the past year gives it a a strong long-term technical score of 78 as its price movement in that time has given investors reason to be neutral on the coin in the long-term. Click Here to get the full Report on IoTeX (IOTX).