IoTeX market outlook from August 2 - August 8 :the price surges by 16%.

IoTeX has been bullish last week as its price has been predominantly rising. IOTX was caught in a period of medium volatility, which was reflected in its price action. There has been a rise in the market capitalization of the asset during the period under review. The price action of the crypto coin from last week stemmed from the increasing trading volume.

The price action of IoTeX has been contained due to modest volatility. The average volatility of 7% was the reason why the price of IOTX didn't put up any significant gains. The largest volatility for the given period occurred on August 2 and amounted to 8.75%. The asset's volatility was at its lowest on August 6 when it dropped to 0.57%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.

The opening price of IoTeX was at $0.03 on August 2, with buyers having a more visible presence on the market. The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. The price action of the coin remained bullish on August 3 as the bulls pushed the price up by 9%. IoTeX posted the interim low at $0.035 on August 4 and then moved up by 1% and peaked at $0.037. On August 6, IOTX market moved by 4% in the bullish direction in concert with the trading volume. On August 6, IoTeX finished the trading day with no changes to the flatlined market. The crypto coin opened the trading session on August 7 at $0.04 and finalized it at $0.04; the highest point of price action was at $0.038, the lowest was detected at $0.036. The coin found the deepest trough (24H low) at $0.036 on August 8 and then exploded to the ceiling (24H high) at $0.038; the price range for that day was between $0.04 and $0.04. The asset posted the weekly low at $0.032, while the top of the weekly trading session was registered at $0.038. The price action on the weekly time frame made IoTeX within the 16% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.005.

Over the period of the last 7 days, August 2 to August 8, IoTeX saw its average trading volume fluctuate between $40 719 485 and $13 459 081. A more comprehensive analysis of IOTX price action requires the comparison of the trading volume between August 2 and August 8 with that from the preceding week that demonstrated how the trading volume fluctuated between $20 778 672 and $34 364 334. The asset demonstrated an 30% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 16%.

Bitcoin began the observed period August 2 - August 8, with the market capitalization of $314 143 034 and finalized it at the market capitalization level of $345 017 163. Percentage-wise, the market capitalization of IOTX has shifted by 10% in the past week. The 10% change in the coin's market capitalization affected the price rate that saw a 16% shift in the same time period. In the preceding week, July 26 - August 1, the market capitalization of IoTeX got a 14% adjustment ($278 317 426 to $316 110 834) in comparison to a 10% change last week; this allows getting a deeper insight into the market structure.

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Article date: August 8 | August 2 - 8

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