IOTEX NETWORK - IOTX/USD - 1H - Technical analysis published on 04/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 0.073302 USD
My targets
0.069975 USD (-3.40%)
0.065033 USD (-10.22%)
My analysis
The bearish basic trend is very strong on IOTEX NETWORK - IOTX/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 0.073302 USD. Crossing the first support at 0.069975 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 0.065033 USD as an objective. Crossing it would then enable sellers to target 0.060575 USD. Caution, a return to above the resistance located at 0.073302 USD would be a sign of a possible consolidation phase of the short-term basic trend. 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 are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
3.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
IOTEX NETWORK - IOTX/USD rating 0.072435 USD. The price is lower by -0.14% since the last closing with the lowest point at 0.071714 USD and the highest point at 0.072824 USD. The deviation from the price is +1.01% for the low point and -0.53% for the high point.0.071714
0.072824
0.072435
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this IOTEX NETWORK - IOTX/USD chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 9 technical indicators out of 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.039550 | 0.060575 | 0.069975 | 0.072435 | 0.073302 | 0.076413 | 0.080106 |
| Change (%) | -45.40% | -16.37% | -3.40% | - | +1.20% | +5.49% | +10.59% |
| Change | -0.032885 | -0.011860 | -0.002460 | - | +0.000867 | +0.003978 | +0.007671 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.063164 | 0.066570 | 0.069552 | 0.072958 | 0.075940 | 0.079346 | 0.082328 |
| Camarilla | 0.070778 | 0.071364 | 0.071949 | 0.072535 | 0.073121 | 0.073706 | 0.074292 |
| Woodie | 0.062953 | 0.066464 | 0.069341 | 0.072852 | 0.075729 | 0.079240 | 0.082117 |
| Fibonacci | 0.066570 | 0.069010 | 0.070518 | 0.072958 | 0.075398 | 0.076906 | 0.079346 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.058787 | 0.065033 | 0.069366 | 0.075612 | 0.079945 | 0.086191 | 0.090524 |
| Camarilla | 0.070791 | 0.071761 | 0.072730 | 0.073700 | 0.074670 | 0.075640 | 0.076609 |
| Woodie | 0.057832 | 0.064555 | 0.068411 | 0.075134 | 0.078990 | 0.085713 | 0.089569 |
| Fibonacci | 0.065033 | 0.069074 | 0.071571 | 0.075612 | 0.079653 | 0.082150 | 0.086191 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.012963 | 0.032433 | 0.053896 | 0.073366 | 0.094829 | 0.114299 | 0.135762 |
| Camarilla | 0.064103 | 0.067856 | 0.071608 | 0.075360 | 0.079112 | 0.082864 | 0.086617 |
| Woodie | 0.013961 | 0.032931 | 0.054894 | 0.073864 | 0.095827 | 0.114797 | 0.136760 |
| Fibonacci | 0.032433 | 0.048069 | 0.057729 | 0.073366 | 0.089002 | 0.098662 | 0.114299 |
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): | 43.64 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | -8.104140 | |
| AROON (14): | -28.571429 | |
| DEMA (21): | 0.071675 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.070142 | |
| Elder Ray (13): | -0.000100 | |
| Super Trend (3,10): | 0.074127 | |
| Zig ZAG (10): | 0.072161 | |
| VORTEX (21): | 0.8699 | |
| Stochastique (14,3,5): | 54.60 | |
| TEMA (21): | 0.071733 | |
| Williams %R (14): | -46.48 | |
| Chande Momentum Oscillator (20): | -0.001486 | |
| Repulse (5,40,3): | 0.2549 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1482 | |
| Courbe Coppock: | 1.89 |
| MA7: | 0.075166 | |
| MA20: | 0.073336 | |
| MA50: | 0.066079 | |
| MA100: | 0.055323 | |
| MAexp7: | 0.072174 | |
| MAexp20: | 0.072512 | |
| MAexp50: | 0.073706 | |
| MAexp100: | 0.074735 | |
| Price / MA7: | -3.63% | |
| Price / MA20: | -1.23% | |
| Price / MA50: | +9.62% | |
| Price / MA100: | +30.93% | |
| Price / MAexp7: | +0.36% | |
| Price / MAexp20: | -0.11% | |
| Price / MAexp50: | -1.72% | |
| Price / MAexp100: | -3.08% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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