IoTeX Recovery and Potential for Long-Term Gains
IoTeX has experienced a strong recovery in the past 24 hours, with a 5.3% gain driven by Grayscale’s victory over the SEC. This has also boosted Bitcoin and other altcoins. Despite this recovery, IOTX is still down 23% in the last month. The recent gains have led to a decrease in volatility, suggesting that those who fueled the rally have not sold yet. However, buyers seem exhausted. The IoTeX development team has been actively building, which could lead to significant gains in the future.
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IOTX Price and Potential for Overcoming Bearish Sentiment
Currently trading at $0.014, IOTX has shown mild volatility in the past 24 hours, fluctuating between $0.0135 and $0.00145. Although IOTX briefly dropped to a three-month low, the recent gains have allowed for a slight recovery. However, if IOTX fails to maintain these gains, the price may create a new 90-day low below $0.013. To overcome the bearish sentiment, IOTX needs to rally above $0.018 and regain strong buyer momentum. This could potentially bring IOTX back to early June levels above $0.022.
Bearish Pattern and Potential Market Trends
IOTX has yet to rally to levels that can overcome the bearish sentiment. The token’s Relative Strength Index (RSI) of 28 indicates oversold conditions and a bearish momentum. The RSI line also points downwards, suggesting potential re-entry of sellers. On the other hand, the Awesome Oscillator (AO) shows green bars, indicating a rising momentum. However, the AO is on the downside, indicating some bearish momentum as well.
Launchpad XYZ Presale and Benefits for Investors
Investors seeking alternatives may consider Launchpad XYZ, an Ethereum-based platform that integrates artificial intelligence and machine learning for users to maximize their participation in the Web3 sector. The platform offers AI trading features, learning resources, and fast trading terminals. The presale for Launchpad XYZ has raised $1.5 million, with 1 LPX token being sold for $0.0445. Early investors can enjoy a 19% bonus for the next six days. Once launched, Launchpad XYZ is expected to become a leading project in the Web3 industry, offering a solid scoring system for cryptocurrencies and NFTs.
Hot Take: IoTeX’s Recovery and Potential for Long-Term Gains
IoTeX’s recent recovery and the development team’s continued efforts suggest potential for long-term gains. While the bearish sentiment remains a challenge, the recent rally and decreased volatility indicate a positive trend. Additionally, the introduction of DePINscan and the promising Launchpad XYZ presale offer interesting opportunities for the crypto community. Overall, IoTeX shows resilience and potential for growth in the future.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
