IoTeX is a self-scaling and privacy-focused blockchain technology for the Internet of Things (IoT). IoTeX began as an open-source, decentralised platform to enable open economics for machines. This article on IoTeX Price Prediction 2022 is solely based on technical analysis. Let us first start by understanding what IoTeX is and then we will get into the nitty-gritty of IoTeX Price Prediction.
What is IoTeX (iotx)?
IoTeX crypto is a decentralised blockchain network that enables machines and humans to connect while maintaining free will, trust, and privacy. It delivers blockchain power and innovation to NFTs, protected devices, DApps, and other online transactions. The primary goal of the IoTeX cryptocurrency is to ensure that individuals not only own but also have control over the value and data that they generate. The network connects the digital and real worlds, allowing users to access a variety of services.
IoTeX (iotx) has received a significant amount of praise and recognition in numerous crypto journals and blogs. Following a 150 percent price increase, investors and traders would come across one IOTX coin news almost every day.
IoTeX began as an open-source, decentralised platform to enable open economics for machines. The primary goal of IoTeX is to create an open environment in which robots and humans may communicate freely, ensure trust, and benefit from well-designed economic incentives.
The IoTeX has a team of 40 research scientists and engineers from all around the world. IoTeX built its EVM-compatible blockchain from the ground up using the novel Roll-DPoS consensus process. More than 100 delegates from across the world attended the IoTeX (iotx) launch in the April of 2019. Users have already made more than ten million transactions by using blockchain technology.
The IoTeX blockchain team has also constructed the necessary infrastructure to link BSC, Heco blockchains such as the ioPay wallet, and Ethereum. The best thing about the IoTeX blockchain network is that it allows DApps based on EVM to scale without incurring high gas prices.
IoTeX’s Current Market Situation
IOTX is now trading at $0.18 with a 24-hour trading volume of $174,160,192 as of the time of writing this IoTeX price report. IOTX’s price has dropped 7.26 percent in the last 24 hours. Furthermore, the network now has a circulating supply of 9.54 billion IOTX. Binance, Huobi Global, Upbit, HBTC, and Xtheta Global are currently the main cryptocurrency exchanges for IOTX.
Let’s move on to the next section of our IOTX technical analysis for 2021.
A Price Analysis of IoTeX
IoTeX currently ranks 77th on CoinMarketCap. Users can observe the symmetrical triangle pattern on the daily time frame chart. This pattern depicts the time of consolidation preceding a price breakdown or breakout. In the near future, we can say that IOTX has a better probability of going up than down.
IOTX’s Relative Strength Index (RSI) is 46.47, indicating that it is neither overbought nor oversold. This might result in a price reversal at any point. As a result, traders must trade crypto with caution and avoid being swayed by market euphoria. Keeping all of this in mind, traders can avoid incurring unexpected losses as a result of the crypto market’s violent fluctuations.
Since the beginning of 2021, IOTX’s price has undergone several positive movements that are greater than the previous ones. Furthermore, these are immediately followed by consolidation, volatility, and corrections. Taking this into account, IOTX will have a competitive market in 2021.
IoTeX Price Prediction 2022
If the current upward trend continues, IOTX will be worth $1 by the end of 2022. Furthermore, the first half of 2022 will see rapid growth of up to $1.5. The growth will thereafter moderate, but no significant drops are forecast. With planned collaborations and advances, reaching $1.5 is fairly ambitious in terms of pricing, but it is undeniably doable in the near future.
IoTeX Price Prediction 2023
IOTX’s price can reach incredible heights, although it is unlikely to exceed $2. Furthermore, this is only conceivable if the market maintains its positive trajectory. Furthermore, only if the cryptocurrency IOTX surpasses the psychological resistance level.
IoTeX Price Prediction 2025
IOTX pricing might reach $3 in the next three years. However, hitting this level may not be as tough for IOTX as a new medium, short-term, or long-term price objective for purchase or sell orders may be discovered. According to the forecast, IOTX has a high probability of achieving a new ATH during the next five years.
IoTeX Price Prediction 2031
According to the IoTeX price prediction and technical analysis, the IOTX price is predicted to cross an average price level of $4.09 in 2031, with the current year’s minimum price value of $3.94. Furthermore, IOTX might reach a maximum price of $4.77.
In 2022, IoTeX has a promising future. With the current changes inside the IOTX ecosystem and the wider crypto market, we may see IOTX reach new heights. The bullish IOTX price forecast for 2022 is $1. However, if investors determine that IOTX, along with other cryptocurrencies like Bitcoin and Ethereum, is a solid investment in 2022, it may potentially reach $1.5 per token.