- IoTeX price analysis is highly bullish today.
- The IOTX/USD is at an all-time high of $0.25.
- IoTeX has emerged as a winner of the IoT blockchain race.
The IoTeX price analysis reveals the IOTX/USD is strongly bullish at the moment, and the recent uptrend started on 28th October. But IOTX skyrocketed yesterday when it rallied high to $0.215 and continues the upside today as well. At one instance yesterday, the IOTX swang as high as $0.394 but capped at $0.215.
The IoTeX has emerged as a winner of the IoT (internet of things) blockchain race, as it is the token with the highest gains right now, owing to the latest technology advances the IoTeX has been developing and launching, making it more useful for businesses and practical life, especially connecting machine-human interface.
IOTX/USD 1-day price chart: IoTeX continues to rally higher
The 1-day price chart for IoTeX price analysis shows that the token is still racing higher above $0.2 as it is trading hands at $0.25 at the time of writing. The IOTX/USD pair reports an increase in value by 111 percent over the last 24 hours and also an increase in value by 161 percent over the course of the past seven days. The market cap has improved by 117 percent, and the trading volume has increased by 1548 percent, proving the traders’ interest in the token and helping it rank at 80th position in the top 100 list.
IOTX/USD 1-day price chart. Source: Tradingview
The volatility has been increasing for the crypto pair from 2nd November when the Bollinger bands took on to expanding steeply and continues to diverge till today with the upper band at $0.18 representing support for the IOTX/USD pair. The moving average (MA) is present at a level of $0.1.
The IOTX/USD pair is in an overbought state right now, as the relative strength index (RSI) continues to trade in the overbought region at index 92. But the RSI now trades at a horizontal slope indicating a slow down in the buying activity after continuing to increase till yesterday, 3rd November.
IoTeX price analysis: Recent developments and further technical indications
The 4-hour IoTeX price analysis shows that the price breakout was downwards today, but after correcting for some hours, bulls took over the price function, and the price started oscillating upwards, which still continues to the upside.
IOTX/USD 4-hours price chart. Source: Tradingview
The volatility on the 4-hour chart is also high as the volatility indicator shows steep divergence with the price trading above the upper limit of the indicator. The RSI continues to trade in the overbought zone on a humble upwards curve, indicating buyers gaining strength again.
Overall the technical indicators for the IoTeX price analysis are on the bullish side, with 12 technical indicators suggesting investing in the IOTX and only two indicators suggesting cashout. However, nine technical indicators stand neutral and don’t show any favor for either side.
IoTeX price analysis: Conclusion
The IoTeX price analysis shows that the crypto pair is highly volatile and bullish at this moment in time, as it is swinging high, gaining more than 150 percent value over the past week, with the steepest increment observed yesterday. Prospects are brighter for IOTX as the blockchain backing it is strong and with a proven track record for new developments and usage providing it an edge over the competition. For today we expect the IOTX/USD to continue upside and mark a higher high above yesterday’s ATH of $0.215, as the increment in price is quite substantial today.
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