Frax Share (FXS) Price Prediction 2023 – Will FXS Hit $18 Soon?

• Bullish FXS price prediction for 2023 is $13.363 to $24.644.
• Frax Share (FXS) price might reach $30 soon.
• Bearish FXS price prediction for 2023 is $3.890.

In Frax Share’s (FXS) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and much other information about FXS to analyze the future movement of the cryptocurrency. 

Frax Share Current Market Status

What is Frax Share (FXS)?

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain currently implemented on Ethereum. The Frax Protocol is a community-driven and unique design stablecoin. over 60% of the supply of FXS is issued over a number of years to liquidity providers and yield farmers. FXS is the governance token that accrues fees, seigniorage revenue, and excess collateral value. The Frax Shares (FXS) tokens are also available and as liquid as the stablecoin. 

Frax Share (FXS) Price Prediction 2023

Frax Share (FXS) ranks 80th on CoinMarketCap in terms of its market capitalization. The overview of the Frax Shareprice prediction for 2023 is explained below with a daily time frame.

FXS/USDT Horizontal Channel Pattern (Source: TradingView)

In the above chart, Frax Share (FXS) laid out a horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. the exit often occurs at the fourth contact point on one of the horizontal channel’s lines.

At the time of analysis, the price of Frax Share (FXS) was recorded at $7.60. If the pattern trend continues, then the price of FXS might reach the resistance levels of $11.890 and $35.551. If the trend reverses, then the price of FXS may fall to the support of $6.968, & $4.070.

Frax Share (FXS) Resistance and Support Levels

The chart given below elucidates the possible resistance and support levels of Frax Share (FXS) in 2023.

FXS/USDT Resistance and Support Levels (Source: TradingView)

From the above chart, we can analyze and identify the following as the resistance and support levels of Frax Share (FXS) for 2023.

As per the above analysis, if Basic Attention’s (FXS) bulls take the lead, then it might hit and break through its resistance level of $24.644.

Conversely, if Basic Attention’s (FXS) bears dominate the trend, the price of FXS might plunge to  $3.890.

Frax Share (FXS) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Frax Share (FXS) are shown in the chart below.

FXS/USDT RVOL, MA, RSI (Source: TradingView)

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes.  It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. 

At the time of analysis, the RVOL of Frax Share (FXS) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days.  When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the FXS price lies below 50 MA (short-term), indicating its downtrend. Hence, FXS is in a bearish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. 

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of FXS is at 38.76. Therefore, this indicates FXS is nearly in an oversold state.  Also, this confirms that FXS sends out a buy signal.

Frax Share (FXS) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Frax Share (FXS) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).

FXS/USDT ADX, RVI (Source: TradingView)

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of FXS lies in the range of 12.616 pointing out a weak trend. 

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of FXS lies above 50, indicating high volatility. 

Comparison of FXS with BTC, ETH

Let us now compare the price movements of Frax Share (FXS) with that of Bitcoin (BTC), and Ethereum (ETH).

BTC Vs ETH Vs FXS Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of FXS is similar to that of BTC and ETH. That is, when the price of  BTC and ETH increases or decreases, the price of FXS also increases or decreases respectively.

Frax Share (FXS) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Frax Share (FXS) between 2024 and 2030.

Frax Share (FXS) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Frax Share (FXS) might successfully test and surpass its resistance levels to hit $33 by 2024.

Frax Share (FXS) Price Prediction 2025

The significant upgrades in the Frax Shareecosystem might persuade the entry of an increased number of investors. This may eventually boost the Frax Share (FXS) price to reach $35 by 2025.

Frax Share (FXS) Price Prediction 2026

If Frax Share (FXS) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $39. 

Frax Share (FXS) Price Prediction 2027

If Frax Share (FXS) sustains major resistance levels and stands as a better investment option in the market, then FXS would rally to hit $45. 

Frax Share (FXS) Price Prediction 2028

If Frax Share (FXS) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then FXS would hit $49 by 2028.

Frax Share (FXS) Price Prediction 2029

If investors flock in and continue to place their bets on Frax Share (FXS), then the crypto would witness major spikes. Hence, FXS might hit $52 by 2029.

Frax Share (FXS) Price Prediction 2030

By 2030, the FXS price might rally to $55 if the trend momentum aligns in favor of Basic Attention. Furthermore, FXS would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.

Conclusion

If Frax Share (FXS) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Frax Share (FXS) price prediction for 2023 is $24.644. Comparatively, the bearish Frax Share (FXS) price prediction for 2023 is $3.890  

If there is a positive elevation in the market momentum and investors’ sentiment, then Frax Share (FXS) might hit $30. Furthermore, with future upgrades and advancements in the Frax Shareecosystem, FXS might surpass its current all-time high (ATH) of $42.67 and mark its new ATH. 

FAQ

1. What is Frax Share (FXS)?

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain currently implemented on Ethereum.

2. Where can you buy Frax Share (FXS)?

Traders can trade Frax Share (FXS) on the following cryptocurrency exchanges such as Binance, CoinW, Deepcoin, Bitrue, and Bybit..

3. Will Frax Share (FXS) record a new ATH soon?

With the ongoing developments and upgrades within the Frax Share platform, Frax Share (FXS) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Frax Share (FXS)?

Frax Share (FXS) hit its current all-time high (ATH) of $42.67 on April 03, 2022

5. What is the lowest price of Frax Share (FXS)?

According to CoinMarketCap, FXS hit its all-time low (ATL) of $1.5167 on June 25, 2021

6. Will Frax Share (FXS) hit $30?

If Frax Share (FXS) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $30 soon.

7. What will be the Frax Share (FXS) price by 2024?

Frax Share (FXS) price might reach $33 by 2024.

8. What will be the Frax Share (FXS) price by 2025?

Frax Share (FXS) price might reach $35 by 2025.

9. What will be the Frax Share (FXS) price by 2026?

Frax Share (FXS) price might reach $39 by 2026.

10. What will be the Frax Share (FXS) price by 2027?

Frax Share (FXS) price might reach $45 by 2027.

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                                                                                                                                                                                                                                                                                                                                                  Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.