MarketPredictionPrice Analysis

IOTEX Price Prediction 2021 – Will IOTX Reach $1 in 2021?

  • Bullish IoTex price prediction ranges from $0.058 to $0.11.
  • IOTX price might also reach $1 soon.
  • IOTX bearish market price prediction for 2021 is $0.0022.

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?

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 a profitable crypto in 2021? Join me and let us see the charts in this IOTX price analysis and IOTX price prediction.

IoTeX Current Market Status

As of the time of writing this IoTeX price analysis, IOTX trades at $0.04871 with a 24-hour trading volume of $70.043 million. The price of IOTX has decreased by 1.45% in the last 24 hours.

Furthermore, the network has a current circulating supply of 9,644,304,442 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 184th place on CoinGecko. 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 chart below, which is set in a monthly time frame, we can see the ascending channel pattern. An ascending channel is the price action occurring in an upward direction via a sloping parallel line. Also, the chart below displays the higher highs and higher lows form of this price pattern. More so, this pattern indicates a short-term bullish.

IOTX/USDT chart showing Ascending Channel pattern
IOTX/USDT chart showing Ascending Channel pattern (Source: TradingView)

As shown above, at the beginning of this month, IOTX turned from its bear state to bull trend. This is the result of the high trade volume that happened in that period.

IOTX Relative Strength Index (Source: TradingView)

As shown above, the Moving Average Convergence/Divergence (MACD) of IOTX continues to reside below the signal indicator. In short, cryptocurrency traders must trade with caution and must be careful in the days ahead. On the contrary, if the MACD starts to move up and performs a bullish crossover with the signal indicator, it will be a different story.

Meanwhile, the relative strength index (RSI) of IOTX is at a level below 70. To explain, the crypto is neither overbought nor oversold. In this case, traders such as scalp and day traders can trade with confidence without the fear of any major price reversal.

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

IOTX 30-day SMA and 50-day EMA (Source: TradingView)

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 $0.11 resistance level and climb higher.

IOTX USDT Price Chart
IOTX/USDT Price Chart (Source: TradingView)

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 $0.0087, 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 $0.088 this year. However, that will only happen if it breaks many previous psychological resistances.

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 $0.11. However, it may even reach $1 if investors have decided that IOTX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is IOTX?

IoTeX is the auto-scalable and privacy-centric blockchain platform for the Internet of Things (IoT). IoTeX also has its native digital asset called IOTX coin.

How to Buy IOTX Coins?

Users can obtain IOTX coins by purchasing them from cryptocurrency exchanges such as Huobi Global or Binance.

Will IOTX Surpass its Current ATH?

IOTX is a good investment in 2021. However, IOTX has a high possibility of surpassing its current ATH at about $0.088 this year.

Can IOTX reach $1 soon?

Yes, it’s very much possible that IOTX might reach $1 in the near future as per the current bullish trend.

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.

Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

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