IOTEX NETWORK - IOTX/USD - 1H - Technical analysis published on 08/14/2022 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 0.042190 USD
My targets
0.045500 USD (+6.46%)
0.047590 USD (+11.35%)
My analysis
The bullish trend is currently very strong on IOTEX NETWORK - IOTX/USD. As long as the price remains above the support at 0.042190 USD, you could try to benefit from the boom. The first bullish objective is located at 0.045500 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.047590 USD as an objective. Crossing it would then enable buyers to target 0.052920 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The IOTEX NETWORK - IOTX/USD price is 0.042740 USD. On the day, this instrument gained +0.57% and was between 0.042570 USD and 0.042740 USD. This implies that the price is at +0.40% from its lowest and at 0% from its highest.0.042570
0.042740
0.042740
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of IOTEX NETWORK - IOTX/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.041500 | 0.042190 | 0.042580 | 0.042740 | 0.052920 | 0.088905 | 0.116400 |
| Change (%) | -2.90% | -1.29% | -0.37% | - | +23.82% | +108.01% | +172.34% |
| Change | -0.001240 | -0.000550 | -0.000160 | - | +0.010180 | +0.046165 | +0.073660 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.039153 | 0.040187 | 0.041343 | 0.042377 | 0.043533 | 0.044567 | 0.045723 |
| Camarilla | 0.041898 | 0.042099 | 0.042299 | 0.042500 | 0.042701 | 0.042902 | 0.043102 |
| Woodie | 0.039215 | 0.040218 | 0.041405 | 0.042408 | 0.043595 | 0.044598 | 0.045785 |
| Fibonacci | 0.040187 | 0.041023 | 0.041540 | 0.042377 | 0.043213 | 0.043730 | 0.044567 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.036820 | 0.038320 | 0.040410 | 0.041910 | 0.044000 | 0.045500 | 0.047590 |
| Camarilla | 0.041513 | 0.041842 | 0.042171 | 0.042500 | 0.042829 | 0.043158 | 0.043487 |
| Woodie | 0.037115 | 0.038468 | 0.040705 | 0.042058 | 0.044295 | 0.045648 | 0.047885 |
| Fibonacci | 0.038320 | 0.039691 | 0.040539 | 0.041910 | 0.043281 | 0.044129 | 0.045500 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.023847 | 0.028933 | 0.034517 | 0.039603 | 0.045187 | 0.050273 | 0.055857 |
| Camarilla | 0.037166 | 0.038144 | 0.039122 | 0.040100 | 0.041078 | 0.042056 | 0.043034 |
| Woodie | 0.024095 | 0.029058 | 0.034765 | 0.039728 | 0.045435 | 0.050398 | 0.056105 |
| Fibonacci | 0.028933 | 0.033009 | 0.035527 | 0.039603 | 0.043679 | 0.046197 | 0.050273 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 62.48 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | 20.593738 | |
| AROON (14): | 71.428571 | |
| DEMA (21): | 0.042553 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.042080 | |
| Elder Ray (13): | 0.000303 | |
| Super Trend (3,10): | 0.041394 | |
| Zig ZAG (10): | 0.042730 | |
| VORTEX (21): | 1.1148 | |
| Stochastique (14,3,5): | 41.99 | |
| TEMA (21): | 0.042627 | |
| Williams %R (14): | -51.02 | |
| Chande Momentum Oscillator (20): | 0.000600 | |
| Repulse (5,40,3): | -0.1794 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0514 | |
| Courbe Coppock: | 2.12 |
| MA7: | 0.041714 | |
| MA20: | 0.040801 | |
| MA50: | 0.038715 | |
| MA100: | 0.040429 | |
| MAexp7: | 0.042543 | |
| MAexp20: | 0.042284 | |
| MAexp50: | 0.042048 | |
| MAexp100: | 0.041851 | |
| Price / MA7: | +2.46% | |
| Price / MA20: | +4.75% | |
| Price / MA50: | +10.40% | |
| Price / MA100: | +5.72% | |
| Price / MAexp7: | +0.46% | |
| Price / MAexp20: | +1.08% | |
| Price / MAexp50: | +1.65% | |
| Price / MAexp100: | +2.12% |
Quotes :
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Real time data
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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