1 IoTex is considered as a leader in the Decentralized Physical Infrastructure Network (DePIN) space.

2 IOTX derivatives data suggest there has been a spike of +4.23% in derivative trading volume.

IoTex is a crypto coin that runs a distributed network for connecting and controlling smart devices and IoT systems. It wants to enable a transparent and fair environment where humans and machines can cooperate with each other. 

According to CoinMarketCap the current market cap for IOTX is $180.2M resulting in a fully diluted market cap of $190.6M currently valuing at $0.01905008 per coin trading with an advance of +0.7% in the last 24 trading hours. 

As per the price analysis, the price of IoTex is trading in a very small range and isn’t showing any significant volatility in the market.

IoTex Price Technical Analysis in Daily Time Frame

IOTX by Virtual_devil_r on TradingView.com

IoTex price has declined more than -41.00% in the last year. The price has almost dropped to its lowest limit and is acting stable at current levels. This often shows that IOTX crypto has one way left to make a huge move and there is a lower limit on downside.

EMA analysis of the IoTex coin price shows the price is trading below the crucial Exponential Moving Averages like the 20,50 and 200 EMA. This again indicates bearishness in the market.

IoTex is losing strength as it could not maintain above the midline of the RSI indicator. Moreover, the RSI is consistently sustaining below the level of 50 creating a small zone.

IoTex Price Summary

Source: CoinMarketCap

For IoTex, only 41% of holders are still holding their position and there have been no transactions greater than $100K in the last 7 days.

Conclusion

IOTX price has declined sharply from the top and currently shows no signs of optimism. The EMA and RSI are also negative and there is no significant activity in the crypto market recorded recently.

Therefore, IoTex looks weak on charts, but any breakout above the level of $0.0562 can lead to a good momentum, as there is positive news flowing in the market for IOTX and the market has been trading in a very narrow range for a long time.

Technical Levels: 

• The support level is $0.01697.
• The resistance level is $0.1289.

Disclaimer

The evaluation provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions