IoTeX - IOTX Coin

IoTeX Price Analysis: IOTX Token Price Downtrend Gains Momentum, Soon To Hit $0.15#cryptonew#IOTEX

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The IOTX token price falls more than 40% in the past two weeks.
The IOTX/BTC pair trades at 0.000003286 BTC with a rise of 1.28%.
The 24 -hours volume for IOTX coin is $611 Million, indicating a 190% hike.
The IOTX token price action shows the price falling lower in a downtrend and approaching the $0.21 mark in the 4-hour chart. Thus, a fallout below the $0.21 mark can result in downfall to the $0.15 mark.



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The IOTX price shows a bearish trend, with its price trading lower than most of the crucial EMAs 50 and 100. However, the price is yet to break below the 200-days EMA. Hence, the chances of a bullish reversal are still considerable

The coin price shows a rising bearish trend; however, the pivot point indicates support levels at the $0.19 and $0.15 mark if the price shows a bearish downfall. Moreover, on the flip side, the resistance level is at $0.26 after the $0.31 mark.
Is It Too Early To Enter The IOTX Token?
As we have already mentioned, the IOTX Token price is showing bearish growth in the present downfall. Moreover, the increase in trading volume indicates a rise in underlying bearish sentiments.
As of press time, the coin’s price is $0.1897. There has been a decrease in value of 4.85% during the past 24 hours. IOTX’s intraday trading volume also rose by 190%.

The RSI indicator indicates a rise for underlying bearishness as the slope falls below the 50% mark. The price action is consistent with the slope and enters the “nearly oversold”. The RSI indicator, therefore, gives a sell signal.

MACD indicators show that the MACD indicator is moving below the signal line, which is in a bearish alignment in the 4-hour chart. These lines are located below the centerline. This creates a sell sign.

Conclusion: From a technical perspective, the IOTX coin shows a powerful downfall in action, evident by the multiple bearish engulfing candlesticks in the 4-hour chart. And, the price action shows higher chances of the price falling below the $0.20 mark in the near future.

Support – $0.21 and $0.15

Resistance – $0.26 and $0.31

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