IOTX Technical Analysis: Uptrend Skyrockets Above $0.10

The IOTX coin price shows a phenomenal rise of 30% in the past 24 hours to surpass the $0.10 mark. Will the uptrend survive to create a new all-time high? IoTeX can be described as the decentralized backbone of machine economics that serves various machines, from smart devices at home as well as autonomous cars. To achieve this, IoTeX has built and launched a high-performance, fast and EVM-compliant blockchain which offers flexibility and scalability diverse applications. Additionally, middlewares and Dapps can be built upon the blockchain platform to enable self-sovereign devices as well as real-world oracles to life. Let us move ahead to read about IoTeX technical analysis. Past Performance of IOTX The IOTX coin price finds a sudden bullish surge as the market recovers from the early bearish days of 2022. The price action breaks above the falling wedge pattern with a 30% jump in the past 24 hours. The 170% jump in the intraday trading volume supports the bullish rise. Moreover, the price breaks above two crucial SMAs to avoid a death cross. IOTX/USD Daily Chart IOTX Technical Analysis The IOTX coin price grows by 55% in the past week with the breakout of the double bottom pattern made near the support trendline. Moreover, the price surpasses the crucial horizontal level at the $0.10 mark. The crucial Simple Moving Averages maintain an overall bullish alignment as the price and the 50-day SMA are above the 200-period SMA. How...