• IoTeX (IOTX) Is Up; Is Now the Time to Invest?

  • IOTX is the IoTeX network’s token. It is a cutting-edge data privacy EVM-compatible blockchain. To process millions of transactions, it employs the ROll-DPoS consensus. It is equipped with the infrastructure to connect to BSC, ETH, and Heco.

    It began in 2017 with the goal of creating a decentralized platform for human-machine interaction. IoTeX is an open-source ecosystem in which humans can interact with machines with confidence and autonomy.

    The price of IOTX has risen this month as a result of the announcement by the IoTeX team that they will deliver a keynote speech at the DeFi Live event on November 10. This month, it has provided a good return.

    Aside from that, Chaillink stated that it would soon integrate IoTeX with its Oracle. Chainlink is a large cryptocurrency community with a $16 billion market cap. The price of the coin skyrocketed after the team delivered the speech. It soared on November 3rd.

    As you can see from the daily chart, the price began to rise on November 3rd as a result of the big news. If it lacks fundamentals and is raised in response to news, it may lose its top position.

    IOTX has established a support level of $0.15 and a resistance level of $0.40. It is currently attempting to establish a support level of $0.28. IoTeX either creates a new support level or reverts to the previous support level. You must wait for the response.

    We don’t know whether this forming candlestick will rise or fall. When we look at the RSI, we can see that it is still bullish, with a value of 63. The Bollinger Band is also useful because the last few candlesticks have been well above the baseline and have been very bullish. The MACD chart backs it up as well, because the blue line is still too far away to create bearish momentum.

    The sudden increase in volume is intriguing, indicating that investors are interested in this coin. If you are looking for a long-term investment, you should wait for an opportunity because the coin does not have a long history like BTC or ETH.

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