IOTEX - IOTX/USDT - Daily - Technical analysis published on 12/03/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 0.024393 USDT
My targets
0.022510 USDT (-4.13%)
0.016703 USDT (-28.86%)
My analysis
The bearish trend is currently very strong for IOTEX NETWORK - IOTX/USDT. As long as the price remains below the resistance at 0.024393 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.022510 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.016703 USDT as an objective. Crossing it would then enable sellers to target 0.013380 USDT. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
4.8
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This analysis was given by DAVE. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The IOTEX NETWORK - IOTX/USDT rating is 0.023480 USDT. On the day, this instrument gained +0.17% and was between 0.023250 USDT and 0.023670 USDT. This implies that the price is at +0.99% from its lowest and at -0.80% from its highest.0.023250
0.023670
0.023480
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by IOTEX NETWORK - IOTX/USDT:
Technical
Technical analysis of IOTEX NETWORK - IOTX/USDT in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 0.013380 | 0.022510 | 0.023480 | 0.024393 | 0.030201 | 0.036250 |
| Change (%) | -43.02% | -4.13% | - | +3.89% | +28.62% | +54.39% |
| Change | -0.010100 | -0.000970 | - | +0.000913 | +0.006721 | +0.012770 |
| Level | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
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 | 0.021800 | 0.022160 | 0.022800 | 0.023160 | 0.023800 | 0.024160 | 0.024800 |
| Camarilla | 0.023165 | 0.023257 | 0.023348 | 0.023440 | 0.023532 | 0.023623 | 0.023715 |
| Woodie | 0.021940 | 0.022230 | 0.022940 | 0.023230 | 0.023940 | 0.024230 | 0.024940 |
| Fibonacci | 0.022160 | 0.022542 | 0.022778 | 0.023160 | 0.023542 | 0.023778 | 0.024160 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.017977 | 0.019953 | 0.021157 | 0.023133 | 0.024337 | 0.026313 | 0.027517 |
| Camarilla | 0.021486 | 0.021777 | 0.022069 | 0.022360 | 0.022652 | 0.022943 | 0.023235 |
| Woodie | 0.017590 | 0.019760 | 0.020770 | 0.022940 | 0.023950 | 0.026120 | 0.027130 |
| Fibonacci | 0.019953 | 0.021168 | 0.021919 | 0.023133 | 0.024348 | 0.025099 | 0.026313 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.000417 | 0.010187 | 0.016703 | 0.027307 | 0.033823 | 0.044427 | 0.050943 |
| Camarilla | 0.018512 | 0.020081 | 0.021651 | 0.023220 | 0.024789 | 0.026359 | 0.027928 |
| Woodie | -0.002460 | 0.009165 | 0.014660 | 0.026285 | 0.031780 | 0.043405 | 0.048900 |
| Fibonacci | 0.010187 | 0.016727 | 0.020767 | 0.027307 | 0.033847 | 0.037887 | 0.044427 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.73 | |
| MACD (12,26,9): | -0.0010 | |
| Directional Movement: | -8.521532 | |
| AROON (14): | -64.285714 | |
| DEMA (21): | 0.022477 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.024744 | |
| Elder Ray (13): | 0.000081 | |
| Super Trend (3,10): | 0.026652 | |
| Zig ZAG (10): | 0.023510 | |
| VORTEX (21): | 0.9773 | |
| Stochastique (14,3,5): | 55.32 | |
| TEMA (21): | 0.022311 | |
| Williams %R (14): | -37.27 | |
| Chande Momentum Oscillator (20): | 0.000990 | |
| Repulse (5,40,3): | 3.8425 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.6891 | |
| Courbe Coppock: | 10.63 |
| MA7: | 0.022829 | |
| MA20: | 0.023566 | |
| MA50: | 0.026144 | |
| MA100: | 0.027592 | |
| MAexp7: | 0.023148 | |
| MAexp20: | 0.023887 | |
| MAexp50: | 0.025635 | |
| MAexp100: | 0.028206 | |
| Price / MA7: | +2.85% | |
| Price / MA20: | -0.36% | |
| Price / MA50: | -10.19% | |
| Price / MA100: | -14.90% | |
| Price / MAexp7: | +1.43% | |
| Price / MAexp20: | -1.70% | |
| Price / MAexp50: | -8.41% | |
| Price / MAexp100: | -16.76% |
Quotes :
-
Real time data
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