• As per the Iotex Price Prediction, the price of the Iotex coin is trading at $0.01975 and the Iotex coin price increased by 2.70% in the last 24 hours.
• The market capitalization of the Iotex coin is $186.54 Million.

As per the Iotex Price Prediction, the Iotex coin was in an uptrend from January 1st  reached $0.03901 by February 7th. Since then, it is in a downtrend, it tried to sustain the price as the market’s condition and the buyer’s interest were pessimistic. Therefore, price didn’t hold for long and reached $0.02454 i.e. the nearest support zone on March 9th.
The Iotex price attempted again to go upward but faced rejection from the previously existing supply zone which was at 0.03231 and since then support one $0.02454 is breached on June 6th then support two $0.02108 was breached.
Recently, it took support on the newest support zone at $0.01763 on June 16th but faced rejection from previous support turned resistance at $0.02108 and it is headed back for the support. Now, it seems it might reach back at $0.01763 support or it might break this support soon and fall further down.

It can also be seen that the price effectively follows both trendlines. Eventually, it became a channel that is pressing the price to go downhill. Meanwhile, the Iotex coin price has seen a significant fall of around 22.46% last month. The Iotex coin price plummeted by 9.06% in the last six months. Moreover, the Iotex coin’s year-to-date return is negative with a decrease of 8.69%.
On the day of publishing, the Iotex coin price is at $0.01975. It might reach $0.01676 soon.

Iotex Price Prediction In 1-D Timeframe

On the day of publishing, the price is going downward on the 1D chart. The Iotex coin Price is below the 50 & 200 EMA (exponential moving average), which is rejecting the trend downwards. Investors’ sentiments regarding the Iotex coin are negative and bearish.
The MACD line is showing a bullish crossover but it is in the negative zone until and unless it touches or trades over the zero line the indication can’t be treated as a strict buy. When the MACD line is below the zero line, it is an indication that the current momentum is negative and that the price may decrease.
The Stochastic is a momentum oscillator that measures the speed movements and change of price movements. RSI is a popular tool used in trading to chart the strength or weaknesses of a stock or market. When both indicators are in agreement, it provides a strong signal that the trend will continue in the same direction.
The relative Strength Index (RSI) showcases the downtrend momentum of the Iotex coin. RSI was at 43.80 below the median line which highlights the IOTX further in a downward direction and Stochastic is in the extremely overbought zone, it’ll come back to neutrality or even reach an oversold zone.

The technical parameters of the IOTX price suggest the continuation of the downtrend over the daily time frame chart. The IOTX price reflects a pessimistic view at the moment. Major legitimate indicators MACD, RSI, S.RSI, and EMA, flaunt negative signals about the Iotex coin price. 

The amount of Iotex coin price fell by 3.19% , IOTX traded in a day is $3,174,095. As observed from the volume graph, the trading activity is low in the Iotex coin and the price trading at the demand zone is seen on the chart. Therefore, the Iotex coin price can not push the price upward as the sentiments are negative.

Extraction

The Iotex price prediction analogy suggests that the sentiments and perspectives of investors and traders regarding the Iotex coin price are bearish in the 1D timeframe. The Iotex coin price reflects a pessimistic view at the moment. The technical parameters for the Iotex coin price indicate bearish pressure.

Technical Levels:

• The Nearest Support level is $0.01676.
• The Nearest Resistance level is $0.02160.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.