Key Takeaways
- The IOTX price closed the previous day’s trade at INR 3.41 with a market capitalisation of INR 30,632,192,328 and a circulating supply of 9.54 billion IOTX
- The price is attempitng a slow yet steady recovery towards the immediate resistance and hence could undergo a slow yet steady uptrend including some minor pullbacks
- Yet in the longer time frame, the asset is still highly bearish carrying higher probabilities of discovering new lows in the upcoming month’s
IOTX Price Comparison Table
| Crypto-Asset | Start-Month Price (April) | Mid-Month Price (April) | End-Month Price (April) | % Change |
| Iotex (IOTX) | INR 7.62 | INR 5.70 | INR 4.39 | -44.48% |
* As of 23-May-2022
Check latest prices, charts, and data of IOTX/USDT
Iotex (IOTX) Technical Analysis at a Glance
Iotex price since the beginning of 2022 is swinging within pre-defined resistance and support zone. Woefully, these zones were diminished miserably since April which led to the discovery of new lows a couple of days before. However, the price is currently attempting to maintain a significant upswing which is challenged by the bears. Yet after a brief consolidation, a significant surge could be incoming.
| Short-Term (1hr) | After reaching the immediate resistance, the IOTX price faced a minor rejection but appears to have halted the descending trend for a while |
| Mid-Term (4hr) | The buying pressure is easing a bit and hence one can expect a notable price correction in the next couple of hours |
| Long-Term (D) | In the long-term, the price may undertake a notable deviation towards the upper resistance around INR 4 and quickly fall in the same accumulation zone again |
Technical Indicators & Pivot Levels
Technical Indicators
| Technical Indicators | Value(1D / 1M) | Action (1D / 1M) |
| Relative Strength Index(RSI) | 45.64 / 47.83 | Neutral / Neutral |
| MACD(12,26) | -0.006 / 0.015 | Sell / Buy |
| Average Directional Index(ADX) | 39.83 / 38.92 | Buy / Neutral |
| Bull-Bear Power | 0.0083 / -0.046 | Buy / Sell |
Pivot Levels
| Pivot Levels | Short-Term(D) | Mid-Term(W) | Long-term(M) |
| Moving Average(MA)-50 | INR 4.58 | INR 5.97 | INR 0.026 |
| Moving Average(MA)-200 | INR 7.52 | INR 2.09 | INR 0.47 |
| Resistance | INR 4.39 | INR 5.32 | INR 11.54 |
| Support | INR 2.20 | INR 1.63 | INR 0.94 |
Oscillators
| Oscillators | Short-Term | Mid-term | Long-Term |
| Stochastic Oscillator | 61.79 | 29.42 | 25.12 |
| Ultimate Oscillator | 57.14 | 36.41 | 36.74 |
| Average True Range(ATR) | 0.066 | 0.018 | 0.061 |
| CCI | 133.97 | -136.06 | -79.21 |
The Iotex price is pretty bullish in the daily time frame and hence one can expect a significant upswing until the end of May’s trade. However, in the higher time frames, the asset is extremely bearish and hence a rejection appears to be imminent.
Yet a minor possibility of a flip from the bearish trend emerges as MACD is somewhat bullish in the longer time frame. Therefore, the asset may maintain the current consolidated trend for some more time before it ignites a significant upswing in the next 30 to 45 days.
Additional Read: How to Prepare for a Crypto Market Crash
IOTX Price and Technical Analysis for May-July
Source: Tradingview
- The IOTX price is still swingings within the same descending triangle that it began trending ever since it reached its peak in mid-November 2021
- After flipping from the lows, the asset is attempting hard to reach the upper resistance at INR 4.3
- Woefully, bears appear to be pretty strong now and may try to restrict the price, but eventually, after a minor consolidation, the asset may reach the resistance in the first few days of June
- But it may soon end up facing a rejection towards the lower support again by the end of the month and the possibilities of slicing through the support and discovering new lows are pretty high
- On the contrary, the levels around INR 4.39 appear to be pretty important and hence if the price clears these levels on contact, then the depleting trend may halt the immediate resistance at INR 6 may be tested
How to Invest in Iotex(IOTX)
Investing in Iotex is extremely simple and safe with CoinDCX’s Crypto Investment Plan (CIP). Here you can invest in your desired crypto-asset in easy weekly installments. To start with, just download the CoinDCX App on your smartphone and enter the required details.
Once your documents are verified, then fund your wallet and buy Iotex (IOTX) token. Simple! Therefore, start in Bitcoin & other cryptos with Crypto Investment Plan now!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to support@coindcx.com.
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
Related posts
Cardano Price Prediction 2024: Can the Chang Upgrade Trigger Rally to $1?
Cardano’s technical strength, and 2024 price predictions analyzed.
Sui Price Prediction 2024-2030 : Can SUI Price Touch $4 in 2025?
SUI price is struggling hard to lay down a strong bullish trend.
