Technical Analysis: IOTX Captures the Biggest Gains, as Crypto Markets Fall on Friday

Technical Analysis: IOTX Captures the Biggest Gains, as Crypto Markets Fall on Friday

IOTX was Friday’s big gainer, as crypto markets were lower across the board to end the week. Overall, the global cryptocurrency market cap is down close to 4% in today’s session. Biggest gainers

Following a strong start to the week, which saw the likes of shiba inu (SHIB), and leo token (LEO) both rally by over 50%, cryptocurrency prices fell as we headed into the weekend.

Although the majority of the top 100 markets were in the red, there were a few notable exceptions to this.

IOTX/USD, which was trading at a low of $0.1029 on Thursday, climbed to an intraday high of $0.1205 earlier today.

Today’s move came after two consecutive sessions of declines, which took prices to support of $0.1234, where bulls seemed to have bought the dip. IOTX/USD – Daily Chart

As a result of the rally from support, the 10-day (red) 25-day (blue) moving averages extended their recent upward cross, which was the first time such a crossover happened since early November.

Price strength also fell from its highest point since November this week, and now tracks at 57.7, after maintaining the floor of 54. .

IOTX bulls will likely remain hopeful that prices will move past its recent resistance of $0.1747 in upcoming sessions. Biggest losers

There were many bears in today’s session, however the standout was Kadena, which is down around 10% as of writing.

KDA fell to an intraday low of $8.22 on Friday, after trading at a high of $9.25 less than 24-hours ago.

Friday’s sell off sees KDA/USD fall for a second consecutive session, after failing to break out of its resistance at $10.43.

Today’s move has pushed prices to an interim floor of $7.98, which many see as a stop-gap as it heads to its real support of $5.13. KDA/USD – Daily Chart

Despite the current bearish sentiment surrounding KDA, moving averages, in particular the 10-day (red) look as if it may still be pushing upward. Tags in this story IOTX, kadena (KDA), Technical Analysis

Could we see this bullish momentum return during the weekend? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Volatility Continues Heading Into the Weekend MARKET UPDATES | 9 hours ago Technical Analysis: THETA Surges 20%, While LEO Falls Lower, Again MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous article13 Years Ago Today, Satoshi Nakamoto Published the First Forum Post Introducing Bitcoin Next articleMLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItIndia Won"t Legalize or Ban Crypto at This Stage, Finance Minister Confirms

India"s finance minister has revealed the current status of crypto policy in India, including whether crypto will be legalized or banned in the country. The question surrounding the legitimacy of cryptocurrency was raised in parliament after the government announced that ... read more.Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says Fintech Specialists Predict Ethereum Price Hitting $6,500 This Year Before Rising to $26,338 by 2030 Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks US Inflation Jumps to 7.5%, CPI Climbs at Fastest Rate in 40 Years, Citizens See Little Wage Growth