IOTEX NETWORK - IOTX/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	IOTXUSDT
ISIN:

IOTEX NETWORK - 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

4.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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

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 - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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