IOTX Price Analysis May 2022

IOTX is a coin of platform IoTeX. Its current price is around $0.03968 by writing, with a low of $0.01289, and has a market cap of 378 million dollars.

What is IoTeX?

IoTeX is an Ethereum-based platform to connect IoT devices and decentralized applications. IOTX, the native crypto of the IoTeX platform, can be used for transactions, staking (as part of a Delegated Proof-of-Stake consensus algorithm), and registration of new devices. 

 The IoTeX blockchain is already making an impact on the real world. It has powered two award-winning cameras at CES and even a device that can help optimize supply chains in any industry. As the amount of data generated by IoT devices increases, IoTeX aims to be the leading platform by providing a robust infrastructure that can handle it all.

What is IOTX?

IOTX is the coin of the IoTeX platform, which is around $0.03968 by the time of writing, with a low of $0.01289. Its current ranking is #100 according to CoinMarketCap, with a market cap of 378 million dollars.

IOTX reached a high of $0.2611, with a low of $0.01289. IOTX is the native coin of IoTeX, an IoT platform that allows you to use decentralized applications (such as your camera) safely and securely. They have their own ETH token, which powers the IoTeX ecosystem.

IOTX Coin Market Analysis 

IOTX has a max supply of 10,000,000,000 coins worth around $0.03968 with a market volume of 46 million dollars, whereas the market capitalization is 378 million dollars at writing. 

IOTX Price Prediction

On the 1H timeframe, the price action of $IOTX/USDT has formed a head and shoulder chart pattern. The price is consolidating inside the chart pattern. We have to wait for a successful breakout or breakdown. Then we will enter it.

Head And Shoulder Pattern In Iotx
Head and Shoulder Pattern in IOTX

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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