FIO Protocol Price Prediction 2021 – Will FIO Hit $0.60 Soon?

FIO Protocol Price Prediction 2021 - Will FIO Hit $0.60 Soon?
  • Bullish FIO price prediction ranges from $0.26 to $0.49.
  • The FIO price might also reach $0.60.
  • FIO bearish market price prediction for 2021 is $0.16.

In FIO price prediction 2021, we use statistics, price patterns, ADX, and much other information about FIO to analyze the future movement of the cryptocurrency

FIO Protocol (FIO) is a blockchain protocol that seeks to improve the way coins and tokens are sent and received. The FIO token is the native utility token of the FIO Chain, the project’s blockchain infrastructure, and is used for transaction gas fees and on-chain governance.

Current Market Status of FIO Protocol (FIO)

According to Coingecko, the price of FIO is $0.23 with a 24-hour trading volume of $7,875,078 at the time of writing. However, FIO dropped to 0.34% in the last 24 hours.

Moreover, FIO has a circulating supply of 350,754,194 FIO coins. Currently, FIO trades in cryptocurrency exchanges such as Binance, Hoo, Gate.io, WhiteBIT and Bithumb Global. 

FIO Protocol (FIO) Price Prediction 2021

FIO Protocol (FIO) holds the 447th position on CoinGecko right now. FIO price prediction 2021 explained below with a daily time frame. 

FIO/USDT Triangle Pattern (Source: Tradingview)

A symmetrical triangle is made up of a falling upper trendline and a rising lower trendline. As the price approaches the apex, it will undoubtedly violate the upper trendline, resulting in a breakout and uptrend on rising prices, or it will breach the lower trendline, resulting in a breakdown and downtrend on falling prices. After drawing two converging trendlines on a chart, a triangle can be seen.

The symmetrical triangle differs from the other triangle patterns in that it is a neutral pattern that does not lean in any direction. While the triangle itself is neutral, it still favours the existing trend’s direction, and traders look for breakouts in that direction.

Currently, FIO is waving at $0.23. After this, FIO may continue to fall or rise according to the breakout. With this pattern, FIO may breakout at $0.25 level and will reach the resistance level at $0.49 soon. If the trend reverses, then the price of OKB may fall to $0.14.

FIO Protocol (FIO) Support and Resistance Level

The below chart shows the support and resistance level of FIO Protocol (FIO). 

FIO/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support level of FIO.

  • Resistance Level 1 – $0.26
  • Resistance Level 2 – $0.34
  • Resistance Level 3 – $0.49
  • Support Level 1 – $0.14
  • Support Level 2 – $0.10

The chart depicts the bearish performance of FIO over the previous month. However, this trend will continue to reach resistance level at $0.49 soon. On the contrary, if the trend reversed then FIO might fall to $0.14 presenting a bearish signal.

FIO Protocol (FIO) Average Directional Index (ADX)

Let us now look at FIO’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

FIO/USDT ADX (Source:TradingView)

The above chart represents the ADX of FIO with the range at 30.64, so it indicates a weak trend.

Conclusion

The FIO is one of the cryptos which is great for long-term investment. In addition, FIO price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $0.49 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the FIO ecosystem, the performance of FIO would rise reaching $0.49 very soon. But, it might also reach $0.60 if the investors believe that FIO is a good investment in 2021.

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

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