IoTeX Price Prediction – Will IOTX Price Hit $0.5 in 2021?

This IoTeX (IOTX) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our IOTX price analysis and prediction.

There is an ever-surging hype surrounding the crypto world. However, many cryptos spiked to a new all-time high during this 2021 bull run. In contrast, some crypto also had a downtrend. Therefore, many cryptocurrency traders and investors are confused about whether it is time to hold or sell their crypto for a good price. This might be the same scenario for the IOTX traders and investors.

On the other hand, the crypto market is consolidating lately, and most cryptos are losing their previous gains. Is the IOTX price experiencing the same scenario? We’ll find out shortly in this IOTX price analysis 2021 article. But first, let’s have a look at what IOTX is.

What is IoTeX (IOTX)?

IoTeX is the auto-scalable and privacy-centric blockchain system for the Internet of Things (IoT). Moreover, the IoTeX’s global team consists of Ph.Ds in Distributed Systems, Cryptography, and Machine Learning, top-tier engineers, and experienced ecosystem builders.

IoTeX is developing several in-house technologies to push the frontier of blockchain 3.0, including a blockchains-in-blockchain architecture for heterogeneous computing, lightning-fast Roll-DPoS consensus mechanism, and lightweight privacy-preserving methodologies. IoTeX brings autonomous device coordination to the masses by combining the physical world, block by block.

Now that we have an idea about IOTX, do you think IOTX will be profitable crypto in 2021? Join me and let us see the charts in this IOTX price analysis and IOTX price prediction.

IOTX Current Market Status

As of the time of writing this IoTeX price analysis, IOTX trades at $0.18 with a 24-hour trading volume of $174,160,192. The price of IOTX has decreased by 7.26% in the last 24 hours.

Furthermore, the network has a current circulating supply of 9.54B IOTX. Currently, the top cryptocurrency exchanges for IOTX are Binance, Huobi Global, Upbit, HBTC, and Xtheta Global.

Now, let’s proceed to the next part of this IOTX technical analysis for 2021.

IoTeX Price Analysis 2021

Currently, IoTeX holds 77th place on CoinMarketCap. But will the latest upgrades, development, and changes in the IOTX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this IOTX price prediction article.

In the daily time frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that IOTX has a higher chance of going bullish than bearish.

The Relative Strength Index (RSI) is at 46.47, which means that IOTX is in a neither overbought nor oversold state. This may lead to a price reversal at any given time. Therefore, traders must trade crypto wisely and should not be affected by the market hype. Keeping all this in mind, traders can move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of IOTX.

Since the start of 2021, IOTX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, IOTX has a competitive market this 2021.

IoTeX Price Prediction 2021

The chart below shows that IoTeX has performed great over the past few days. Moreover, the IOTX price is over 25% in the last 7 days. If this trend continues, IOTX might run along with the bulls, overtaking its $0.3 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone IOTX from its uptrend position. In simpler terms, the price of IOTX might plummet to almost $0.15, a bearish signal.

Meanwhile, our long-term IOTX price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.26 this year. However, that will only happen if it breaks many previous psychological resistances.

IoTeX (IOTX) Price Prediction 2022

If this bullish trend continues, IOTX will reach $1 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $1.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

IoTeX (IOTX) Price Prediction 2023

The price of IOTX can move even great heights, however reaching $5 Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency IOTX breaks past psychological resistance level.

IoTeX (IOTX) Price Prediction 2024

As per the latest upgrades, developments, IOTX price prediction, and new project forecasts of the platform. Moreover, this might boost the price of IOTX in the crypto market, and it will be the best investment as the price can spike and reach around $10.5.

IoTeX (IOTX) Price Prediction 2025

In the next four years, IOTX prices could race up to $25. However, reaching this level could not be so difficult for IOTX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that IOTX has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

IoTeX has a bright future ahead in 2021. With the ongoing developments happening within the IOTX ecosystem, as well as in the overall crypto market, we may see IOTX reach new heights.

Bullish IOTX price prediction 2021 is $0.3. However, it may even reach $0.5 if investors have decided that IOTX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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