What do the Short-Term Technicals Predict for IoTeX (IOTX) Thursday?

Thursday, August 25, 2022 06:33 AM | InvestorsObserver Analysts

InvestorsObserver gives IoTeX a strong short-term technical score of 88 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 88% 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.

InvestorsObserver is giving IoTeX a 88 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on IoTeX!

See Full Report

Trading Analysis

IOTX is currently $0.005324 (19.14%) above its 30-day low of $0.027820013 and -$0.008668 (-20.73%) below its 30-day high of $0.04181196. Additionally, IOTX is under its average price of $0.034202705 over the past month of trading with its current price of $0.033143821. Overall, the recent trading history of IoTeX suggest that traders are currently bullish on the coin. IoTeX's market cap of $316,217,880.49 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 $135,530,065.43 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 $19,595,755.08 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

IOTX's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the coin in the short-term. Click Here to get the full Report on IoTeX (IOTX).