Is IoTeX (IOTX) Heading the Wrong Direction Wednesday?

Wednesday, August 17, 2022 07:45 AM | InvestorsObserver Analysts

IoTeX receives an average short-term technical ranking of 63 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 63% 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 63 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 $0.011050 (39.72%) above its 30-day low of $0.027820013 while -$0.002942 (-7.04%) below its 30-day high of $0.04181196. In addition, IOTX's current price of $0.038869649 is above its 30-day moving average price of $0.034486731, leading to an average short-term technical score. Overall the recent trading history of IoTeX suggest that investors are neutral on the coin at the moment. IoTeX's market cap of $370,846,744.10 is relatively average for a coin. 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. Meanwhile, IOTX's average volume is average with $172,681,832.73 worth of the coin traded over an average 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 last 24 hours, IOTX's volume is below its usual with $22,836,874.20 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 an average short-term technical score due to recent trading giving more neutral signals for traders on the coin's short-term movement. Click Here to get the full Report on IoTeX (IOTX).