This article will analyze the IOTX coin according to www.coinmarketcap.com data. First, we will discuss the IOTX coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is IOTX Coin?
IOTX Coin is the native cryptocurrency of IoTeX, a decentralized platform for the Internet of Things (IoT). IoTeX aims to build a secure and scalable infrastructure to connect various IoT devices and enable data sharing and transactions.
What are the projects of IOTX?
Some of the critical projects of IOTX Coin include:
Pebble Tracker: A hardware device that uses IOTX Coin to enable secure and private location tracking of physical assets.
Ucam: A private and secure home security camera that utilizes blockchain technology to protect user data and prevent unauthorized access.
Metamask Integration: IoTeX has integrated with Metamask, a popular Ethereum wallet, to enable IOTX Coin transactions on the Ethereum network.
Factors Influencing IOTX Price
The price of IOTX Coin is influenced by a variety of factors, including:
Market sentiment: Like other cryptocurrencies, the price of IOTX coins is influenced by market sentiment and can be highly volatile.
Adoption and usage: The value of the IOTX Coin may increase if more users adopt and use the IoTeX platform and its associated products and services.
Partnerships and collaborations: Partnerships with other companies or organizations can increase awareness and adoption of IOTX Coin, potentially driving up its value.
Development progress: The progress of development on the IoTeX platform and its associated projects can impact the perceived value of the IOTX Coin.
IOTX COİN TECHNICAL ANALYSIS
IOTX, which went from $ 0.001 to $ 0.263 from 2020 to November 2021, entered a downtrend in November 2021 and fell to $ 0.0197. IOTX, which went up to $ 0.35 with the purchases in the market in 2023, is currently traded at $ 0.0252. According to www.coinmarketcap.com data, IOTX, which has a size of $238,577,388, has had a volume of $12,350,757 in the last twenty-four hours.
IOTX Chart Analysis
IOTX went up to its historical high of $ 0.263 in November 2021, then entered a downtrend and lost 91% today, currently trading at $ 0.0252. When we examine the IOTX chart weekly, we see it has yet to exit the downtrend (red line) it entered. The weekly resistance point of IOTX, which I expect to harden on the downtrend, is $ 0.030, the falling trend line, while the weekly support point can be followed as $ 0.02399.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.