- IOTX price prediction ranges from $0.04 to $0.18.
- IOTX price might also reach $0.2 and beyond this 2023.
- IOTX’s bearish market price prediction for 2023 is $0.0158
IoTeX is an open-sourced decentralized project that focuses on empowering the machine’s economics. Its native token is IOTX and is used to make payments for transactions within the blockchain.
IoTeX investors are bullish on the token since it had a return on investment (ROI) of over 21 times in the past three years. The crypto bubble of 2021 led to an increase in the price of IOTX to its present all-time high (ATH) of $0.2611, attained in November 2021. Irrespective of the recent crypto winter, which led to a dip in the price of most cryptocurrencies, IOTX investors are confident that the future of IOTX is bullish.
IoTeX (IOTX) Market Overview
HTTP Request Failed… Error: file_get_contents(https://api.coingecko.com/api/v3/coins/iotex): Failed to open stream: HTTP request failed! HTTP/1.1 429 Too Many Requests
What is IoTeX (IOTX)?
IoTeX is an open-sourced decentralized project that focuses on empowering the economics of machines.
Its native token is IOTX and is used to make payments for transactions within the blockchain. It is fast and secure with an excellent capacity to connect real-world devices, utility, and data to blockchain DApps.
IoTeX is multi-chained and is present in its own Ethereum blockchain and Binance Smart Chain. It was launched in 2018 and made compatible with Ethereum Virtual Machine (EVM) decentralized applications (DApps) in 2019 after it was integrated into the Roll delegated Proof-of-Stake (Roll-DPoS) consensus mechanism.
IoTeX was co-founded by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. It raised $14 million during its initial coin offering (ICO) for $0.0000125 per IOTX. Its whitepaper was released in May 2018, and its mainnet was launched in 2019.
IoTeX has the plan to connect billions of devices and decentralized applications around the world. Moreover, many middlewares such as Decentralized Identity, Confidential Computing, and Secure Hardware has been built on top of the IoTeX blockchain. This has led to the creation of some notable projects such as Ucam, a self-sovereign device, and Pebble, one of the real-world data oracles. Furthermore, the team assures that the transactions within the IoTeX blockchain are processed almost instantly and at meager fees.
If you are interested in the future of IoTeX (IOTX) and want to know the price analysis and price prediction of IOTX for 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.
IoTeX (IOTX) Current Market Status
The maximum supply of IoTeX (IOTX) is 10 billion IOTX, while its circulating supply is 9.44 billion IOTX, according to CoinMarketCap. At the time of writing, IOTX is trading for $0.02622, representing seven-day increase of 1.02%. The trading volume of IOTX in the past 24 hours is valued at $9,089,428, representing a 23.48% decrease. The fall in trading volume could indicate that the demand for IOTX is settling down
Some top cryptocurrency exchanges for trading IoTeX (IOTX) are Binance, Deepcoin, Huobi Global, Gate.io, Coinbase, and others.
It’s time to take a look at IOTX’s current market and discuss the price analysis of IoTeX(IOTX) in 2023.
IoTeX (IOTX) Price Analysis 2023
Currently, IOTX is ranked in the 136th position on CoinMarketCap. What does the future hold for IOTX enthusiasts and investors? Will upcoming developments within the IoTeX network increase IOTXs? Let’s dive and take a look at IOTX’s 2023 price analysis.
IoTeX (IOTX) Price Analysis – Bollinger Bands
The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The Bollinger Bands consists of upper and lower bands which can be used together, along with the middle line(simple moving average), to determine whether the price would rise or fall.
The upper band of the BB is calculated by adding 2 times the standard deviations to the middle line, while the lower band is calculated by subtracting 2 times the standard deviation from the middle line. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. As such, the prices of the cryptocurrency, when the Bollinger bands are applied should stay within the upper and lower bands 95% of the time is the concept behind this.
Looking at the daily-chart of IOTX/USDT, the Bollinger Bands(BB) are “squeezing”, which indicates that the volatility rate is low. However, last year, IOTX’s Bollinger Bands expanded indicating that IoTeX faced huge price volatility.
Furthermore, the recent candlesticks have touched the upper bands of the Bollinger Bands, which is considered the overbought signal. IOTX might face a slight fall as part of its price correction procedure in the coming future. However, since the Bollinger Bands are tightening, the price may fluctuate slightly, therefore, traders must closely observe the indicator before making a trade with IOTX.
IoTeX (IOTX) Price Analysis – Relative Strength Index
The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.
The RSI value of IoTeX (IOTX) 1-Day chart of IOTX/USDT is at 52.66. This shows that IOTX is showing a neutral trend between 70 and 50. If the RSI value continues to move in this trajectory, it could reach the overbought region. Looking closely at the the RSI’s past behavior, IOTX has reached the overbought region, however, just scratched the surface of the oversold region. If IOTX follows the past behavior, the RSI could reach the overbought region as the the price continues to rise up.
IoTeX (IOTX) Price Analysis – Moving Averages
The chart above shows the 1Day chart of IOTX 200-day and 50-day Moving Average (MA). The MA indicators might form a death cross soon with its current trajectory. However, there is still a chance that there could be a quick reversal in its current trajectory, leading it to a near-death cross experience. Since the candlesticks are below the indicators, IOTX could face a bearish trend.
IoTeX (IOTX) Price Prediction 2023
By looking at the daily chart of IOTX/USDT, the IOTX price was swinging from $0.02389 to $0.03542, after almost touching the support level at $0.02034. It reversed from the support level of $0.02034 and started its climb upwards in the market which is expected to be bullish in the coming weeks.However, traders should note that there is a slight chance that the death cross could be formed, thus, IOTX will have a weak trend in the short term.
Meanwhile, the forecasted long-term IOTX price prediction for 2023 is bullish since it cannot break the present support level soon. We can expect IOTX to reach $0.1 in 2023.
IoTeX (IOTX) Price Prediction – Resistance and Support Levels
This chart shows that the price of IOTX has decreased by 7.2% in the past 30 days. If this price decrease reverses, IOTX could break the $0.041 Resistance 1 level and move higher to $0.132 at the Resistance 6 level and even higher, the bullish signal for 2023.
However, if sellers have their way, the price of IOTX might be dethroned from its present uptrend position. In simpler terms, IOTX might trend below the $0.015 support level and even lower in 2023, a bearish signal.
If the value of the relative strength index (RSI) of IOTX is at least 60 by the end of 2023, the bulls and investors are in charge.
IoTeX (IOTX) Price Prediction 2024
The positive sentiment with the news of Bitcoin halving could directly impact the price of IOTX. Since 2024 is a year of Bitcoin halving, and most cryptocurrencies respond in the same trend as Bitcoin, we could see the cost of IOTX trade at $0.8 by the end of 2024.
IoTeX (IOTX) Price Prediction 2025
By the end of 2025, the price of IoTeX (IOTX) could rise to $1.5. This is because of the price surge, a year after Bitcoin halved. Also, considering that more developments will be introduced into the IoTeX platform since more developers are building on it due to its ultra-fast transaction speed that is also secure.
IoTeX (IOTX) Price Prediction 2026
With the number of IOTX hodlers on the increase and the growing sentiment about cryptocurrencies, IOTX has the possibility of holding most of its recent gains and consolidating. Hence, the price of IOTX could trade around $2 by the end of 2026 due to the bear market that serves as a market correction after a strong bullish run.
IoTeX (IOTX) Price Prediction 2027
By the end of 2026, most investors will be preparing for a possible trend reversal in the direction of the bulls. This is due to the possibility that the market has attained its minimum support level. The price of IOTX could surge to $5 by the end of 2027.
IoTeX (IOTX) Price Prediction 2028
In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. Therefore, the market could attain a high-value IoTeX (IOTX) and hit $8 by the end of 2028.
IoTeX (IOTX) Price Prediction 2029
By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing some lessons learnt to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin (BTC) halving, could surge the price of IOTX to $14 by the end of 2029.
IoTeX (IOTX) Price Prediction 2030
The crypto market could experience high stability as a result of the hodling activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of IoTeX (IOTX) to trade around $18 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the previous years.
Conclusion
As said above, IOTX might reach $0.1 in 2023 and $18 by 2030 if investors have decided that IOTX is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
IoTeX is an open-sourced decentralized project that helps to connect the real world to web3. Its native token is IOTX and is used to make payments for transactions within the blockchain. It is fast and secured with an excellent capacity to connect real-world devices, utility, and data to blockchain DApps.
Like other cryptocurrencies, IoTeX (IOTX) can be traded in cryptocurrency exchanges like Binance, Huobi Global, Coinbase, Kucoin, Gate.io, and others.
IOTX has a low possibility of surpassing its present all-time high (ATH) price of $0.2611 in 2022. However, due to the positive sentiments of its investors, this could be reached by 2022.
IOTX is one of the few cryptocurrencies that has retained its bullish momentum in the past seven days. If this momentum is maintained, IOTX might reach $0.2 soon after its breaks the $0.185 psychological resistance.
IOTX has been one of the most suitable investments in the crypto space in the past three years. Its return on investment of over 2174% makes it one of the assets to keep on the watch list and hodl for the future.
IoTeX has a current all-time low price of $0.001239.
IoTeX was co-founded by Raullen Chai, Kevan Guo, Xinxin Fan, and Jing Sun.
IOTX has a maximum supply that is 10 billion IOTX.
It was launched in 2018.
IOTX can be stored in private and cold and hot wallets of centralized exchanges.
IOTX’s price is expected to reach $0.4 by 2023.
IOTX’s price is expected to reach $0.8 by 2024.
IOTX’s price is expected to reach $2 by 2025.
IOTX price is expected to reach $3 by 2026.
IOTX price is expected to reach $5 by 2027.
IOTX price is expected to reach $8 by 2028.
IOTX price is expected to reach $16 by 2029.
IOTX price is expected to reach $20 by 2030.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
More Crypto Price Predictions:
Post Views: 964
Source: https://coinedition.com/iotex-iotx-price-prediction/