IoTeX Price Prediction 2021 – Will IOTX Hit $0.150 Soon?

IoTeX Price Prediction 2021 - Will IOTX Hit $0.150 Soon?
  • Bullish IOTX price prediction ranges from $0.096 to $0.131.
  • The IOTX price might also reach $0.150.
  • IOTX bearish market price prediction for 2021 is $0.088.

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

IoTeX (IOTX) is an Ethereum token that powers IoTeX, a platform that connects IoT devices (like cameras and sensors) and decentralised applications. IOTX can be used to pay for transactions, stake and govern the IoTeX network, and register new devices.

Current Market Status of IoTeX (IOTX)

According to Coingecko, the price of IOTX is $0.084 with a 24-hour trading volume of $273,548,133 at the time of writing. However, IOTX dropped to 10.63% in the last 24 hours.

Moreover, IOTX has a circulating supply of 9,540,779,324 IOTX coins. Currently, IOTX trades in cryptocurrency exchanges such as Binance, Huobi Global, Upbit , HitBTC, and Coinbase Exchange.

IoTeX (IOTX) Price Prediction 2021

IoTeX (IOTX) holds the 111th position on CoinGecko right now. IOTX price prediction 2021 explained below with a daily time frame. 

IOTX/USDT Ascending Triangle Pattern (Source: Tradingview)

An ascending triangle is considered a continuation pattern, which means that it is significant whether it occurs during an uptrend or a downtrend. When the price breaks out of the triangle, traders tend to buy or sell the asset aggressively, depending on which direction the price broke out.

Currently, IOTX is waving at $0.084. After this, IOTX may continue to fall or rise according to the breakout. With this pattern, IOTX will violate the upper trendline reaching $0.137 soon. If the trend reverses, then the price of IOTX may fall to $0.081.

IoTeX (IOTX) Support and Resistance Level

The below chart shows the support and resistance level of IoTeX (IOTX). 

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

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

  • Resistance Level 1 – $0.096
  • Resistance Level 2 – $0.104
  • Resistance Level 3 – $0.115
  • Resistance Level 4 – $0.131
  • Support Level 1 – $0.088
  • Support Level 2 – $0.081

The chart depicts the both bullish and bearish performance of IOTX over the previous month. However, this trend will break out and reach the resistance level at $0.137. On the contrary, if the trend reversed then IOTX might fall to $0.081 presenting a bearish signal.

IoTeX (IOTX) Average Directional Index (ADX)

Let us now look at IOTX’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can 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 combines with directional indicators.

IOTX/USDT ADX (Source:TradingView)

The above chart represents the ADX of IOTX with the range at 66.96, so it indicates a very strong trend.

Conclusion

The IOTX is one of the cryptos which is great for long-term investment. In addition, short-term IOTX price prediction will be bullish, until the breakout. But, it has a good chance of reaching $0.137 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the IOTX ecosystem, the performance of IOTX would rise reaching $0.137 very soon. But, it might also reach $0.150 if the investors believe that IOTX 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.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.