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IOTEX with BTC pairhello dear trader and investors iotex breakout downtrend channel in dayli timeframe IoTeX's W3bstream has integrated with the Solana Foundation chain. What does this mean for the #IoTeX and #Solana ecosystems? IoTeX is on a mission to bridge the real world with Web3, enabling innovators to create impactful decentralized applications. W3bstream is an off-chain compute infra using zero-knowledge proofs and a zkVM to deliver verifiable results. It has solidified IoTeX as a leader of the #DePIN (Decentralized Physical Infrastructure Networks) sector, where the physical and crypto worlds converge, using token incentives to build and maintain community-contributed infrastructure. To achieve our vision, broad interoperability is crucial. That's why the integration of Solana with W3bstream is a huge step. It empowers DePIN founders building on Solana to leverage W3bstream's capabilities as a middleware layer for the DePIN space. Solana's vibrant developer ecosystem, with nearly 20,000 monthly active developers, is an exciting space for DePIN to grow. With W3bstream, Solana developers can connect their dApps to real-world data, opening up endless possibilities in areas like fitness, green energy, and 5G wireless. DePIN projects on Solana like Helium, Render Token and Hivemapper can now use DePINscan.io, offering real-time, deep insights. DePINscan provides Solana DePINs with an out-of-the-box custom dashboard tool that scales with their dApp, offering data-driven insights for their team, investors, and community. With the addition of Solana, developers now have access to W3bstream Studio, a comprehensive platform for managing real-world applications and their data. Our commitment to interoperability is driven by our mission to bring DePIN to the masses – the list of live integrations includes Polygon Labs, The Arbitrum Foundation, and IoTeX. Developers, regardless of their blockchain preferences, can tap into real-world data and assets through W3bstream. This integration marks just the beginning of what's possible. As we expand our ecosystem, our R&D team is continuously pushing boundaries to empower DePIN builders with tutorials, workshops, and our developer portal. Stay tuned for what's next in this exciting journey toward a more connected and decentralized world. #IoTeX #Web3 #blockchain #cryptonews
Long
by mehdi_kb
1
IoTeX (IOTX) Token| Another 1000% Bullish Wave On The WayHi friends hope you are well and welcome to the new update on my IOTEX token. The IOTX has surged more than 200% and in today's article we will try to understand how this token completed its bullish setup and how it has competed another setup for more powerful bullish rally. Down channel and synchronized move of price action with indicators: Since August 2019 the price action of IOTEX was moving in a down channel and this move on was very much synchronized with some indicators: the Momentum, Stochastic and moving average convergence divergence MACD indicator. If we take closer look at the chart then we notice that 1st the price action reached at the support and the momentum indicator turns bluish and the stochastic gave bull cross from the oversold zone and MACD also turned bullish and priceline of IOTX started more than 124% rally. And in the month of October 2019 the price action again reached at the support then we again receive the bullish indications by the same signals and this time the IOTEX produced more than 29% bullish rally. In December 2019 IOTX received the same bullish signals by these indicators this time the priceline did not reach up to the support and it was moving sideways at the middle of this channel. And from here the priceline moved up and produced more than 55% gains. Then the priceline again dropped at the support in the month of March 2019. And we can observe the same bullish signals by the stochastic, Momentum and MACD indicators in the last week of March then again price action turned strong bullish and produced more than 200% bullish rally. This time the price line of IOTX produced most powerful rally because the IOTX announced the launch of mainnet on 1st June 2020. Moon phase and Bollinger bands: On the same daily chart I have also placed the Moon phase indicator and on the chart it can be seen that above the price line are the full moons and below the priceline are the dark moons. The distance from one full moon to another full moon and from one dark moon to another dark moon is called synodic cycle. And this synodic cycle is 29.5 days long. Before the recent strong bullish move we can see that recent full moon was appeared below the resistance of the channel. And the dark moon was a appeared below the support of this down channel that was bearish signal and it was indicating that the pipeline will be not able to break out the resistance of the channel. And if we see the position of the bollinger bands then it was also very sqeeze and it was also within the channel. Therefore IOTEX had another resistance before the resistance of the channel that was big hurdle for the price action to reach up to the resistance for the breakout. But now after the recent strong bullish move the new moon is a appeared at very high altitude and the Bollinger bands is also moved above the resistance and stretched that is a clear indication that it is paving the way for the priceline for the breakout. Therefore it is expected that the next dark moon will be appeared above the support of the channel. Support and resistance levels: Now if we switch to the long term weekly chart to see the long-term support and resistance levels. Then after the bearish move of March 2020 the price action found a new support at 0.00000029 sats. And it is bounced from there and crossed up the next resistance level of 0.00000029 sats. Now the price action is moving sideways or it may re-test the previous resistance as a support and move to the next resistance level of 0.00000073 sats. Once the resistance of 0.00000073 sats will be broken out then upto 0.00000157 sats the priceline of IOTEX does not have any significant resistance between this area. Therefore from 0.00000073 to 0.00000157 sats the move can be rapid. And this move will be more than 115%. Short term harmonic move: On daily chart the priceline of IOTEX has formed a complete Gartley pattern and at this time the price action has entered in the potential reversal zone of this Gartley. After initial leg the nex leg that is A to B has been retraced between 0.618 0.786 Fib level that is the first confirmation of the Gartley pattern. Then the priceline is projected between 0.382 to 0.886 Fibonacci projection and this is a projection of A to B leg. And this is the second confirmation of Gartley. Now finally the price action has again retraced between 0.618 to 0.786 Fibonacci level and after this retracement the Gartley pattern is confirmed. Therefore as per Fibonacci sequence the buying and sell targets can be as below: Buy between: 0.00000049 to 0.00000039 sats Sell between: 0.00000057 to 0.00000077 sats. so this Gartley can produce upto 97% big bullish move. However if the priceline will be able to cross up the 0.786 Fibonacci projection then it can turn even more bullish. Long term harmonic move: On the long-term weekly chart the price action of IOTX has completed the formation of very big bullish butterfly pattern. After initial leg the A to B leg is retraced between 0.618 to 0.786 Fibonacci level. Then B to C leg is projected between 0.382 to 0.886 Fibonacci projection. And this is the projection of A to B leg. Then finally the price action has been retraced between 1.27 to 1.618 Fibonacci retracement and at this time the price line is moving within potential reversal zone of this butterfly. Here I would like to tell you that on the chart if we observe then 1.618 level goes in the negative zone and it is not possible for the priceline to enter in the negative price level. Therefore the potential reversal zone is from 0.00000062 sats to 0.00000001 sats, but it doesn't mean that I am giving you a suggestion to buy within this potential reversal zone and set your stop loss at 0.00000001 sats as it can be a big loss. As we have seen that the recent support of the price line is 0.00000029 sats therefore we can buy within the potential reversals zone and set our stop loss at 0.00000029 sats. Now as per Fibonacci sequence of bullish butterfly and the recent support level the buying in sell targets can be as below: Buy between: 0.00000062 to 0.00000029 sats Sell between: 0.00000167 to 0.00000344 sats So as per above targets the IOTEX has potential to produce up to 1000% big gains. Conclusion: Even after producing more than 200% rally the price action has again completed the bullish setup for the next strong bullish rally on the short time and on the long term as well. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
Long
by moon333
5