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      IoTeX (IOTX) – The Price increased almost 15%. - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      December 10, 2021

      5:30 AM UTC

      IoTeX (IOTX) – The Price increased almost 15%. - Stocks Telegraph

      At the time of writing this article, IOTX has a value of $0.1239 (13.58% Increase today) with a trading volume of $102,330,486 with an increase of about 111.20% over the past 24 hours. It has been of the top gainers today among the top 100 cryptocurrencies.

      IOTX is listed on coinmarketcap in 85th place. It has a market dominance of about 0.05%. IOTX had created its all-time high around the price of $0.2630 in November 2021.  This month has been bearish for the price and we have seen a decrease of about 19.54% in December. In November we saw an increase of about 113.50%.

      The maximum supply of IOTX is around 10B while the current circulating supply is around 9.54M coins.

      Technical Analysis – IoTeX

      On the daily time frame, we can see that IOTX has been always printing momentous green candles to break the structures. There are two possible points of interest here. First is the presence of the two order blocks that are present below. One of these order blocks is unmitigated at the moment. Both of these were created by the candles that broke the previous structural higher highs.

      The second point of interest is the candles a few days back which brought the price down to the first order block. These candles are highly inefficient in nature. Now the price has shown reversal from the first order block.

      IOTX - 1D

      Now the presence of imbalance can drive the price upwards. IOTX can mitigate the middle equilibrium position of the candles. From there we can expect a reaction from the price. If IOTX becomes stable above we look for a higher high otherwise it would drop the price to the lower order block.

      Now from there, the price can show two possible movements. Either it can go parabolic from there or it can drop down to the lower order block from where it can show a reversal. At that point, it is better to wait for the price to show a clear direction and then take your trade based on that trend with additional confluences.

      Price Prediction – IoTeX (IOTX)

      According to wallet investor, IOTX is one of the most successful investments in the market. According to their predictions, IOTX is expected to reach a value of $0.2085 in a time span of one year. For a five-year plan, the price is expected to reach a value of $0.6077.

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