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.
The crypto-world is gaining popularity at an alarming rate. Many cryptos reached new highs during the 2021 bull market. Some cryptos, however, experienced 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. Investors and traders in IOTX might also be affected by this scenario.
However, crypto market is consolidating recently, and most cryptos are losing previous gains. Is the IOTX market experiencing the same situation? This IOTX price analysis 2021 article will help you find out. Let’s first take a look at IOTX.
What is IoTeX?
IoTeX is an auto-scalable, privacy-centric blockchain system that supports the Internet of Things (IoT). The IoTeX global team includes Ph.Ds from Distributed Systems, Cryptography and Machine Learning, top-tier engineers and 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 combines the physical world block by block to bring autonomous device coordination to the masses.
IoTeX’s History Plays a Major Role in Its Success
A solid foundation is essential for any project. This is great news for IOTX coin holders as the company was founded in 2017 as an open source platform. The goal of the company is to create a decentralized environment where machines and humans can communicate securely and with trust.
IoTeX is different from other coins in the market. It has a solid value proposition and mission. It is designed to allow ordinary people and businesses to have their own devices and create value through data and information. IoTeX aims at democratizing access to machine-backed DApps and assets, as well as services. It links the digital and physical worlds to deliver value to users and to fuel the new machine economy.
IoTeX Market Status
IOTX is currently trading at $0.04871 and has a daily volume of $70.043 Million. In the past 24 hours, IOTX’s price has fallen by 1.45%.
The current circulating supply for IOTX is 9,644,304.442. Currently, IOTX’s top cryptocurrency exchanges are Binance and Huobi Global, Upbit, HBTC and Xtheta Global.
Let’s now move on to the next section of the IOTX technical analysis 2021.
IoTeX Price Analysis 2021
Currently, IoTeX holds 184th place on CoinGecko. Will the IOTX’s latest development and changes help to increase the cryptocurrency price? Let’s look at the charts in this IOTX price forecast article.
An ascending channel refers to price action that is moving in an upward direction along a parallel line. The chart below shows the price pattern’s higher highs as well as lower lows. More so, this pattern indicates a short-term bullish.the Moving Average Convergence/Divergence (MACD) of IOTX continues to reside below the signal indicator. The bottom line is that cryptocurrency traders should trade cautiously and be aware of what lies ahead. Contrarily, if the MACD moves up and does a bullish crossover, it will be an entirely different story.
The relative strength index (RSI), of IOTX, is currently at a low level of 70. The crypto is neither too overbought or oversold. This allows scalp and day traders to trade confidently without fear of a major price reverse.
IoTeX (IOTX), Price
IoTeX (IOTX), is now trading at$0.07376,At the time of writing Its 24-hour trading volume on exchanges is around$57,343,464.
IoTeX (IOTX), Price Prediction
IoTeX (IOTX), is currently trading at$0.07376. Technical experts predict that IoTeX will soon reach $1 dollar due to the amount of attention this coin has received in the last few days, especially the last 24 hours. A strong dip is possible, however, as the crypto market has a quick turnaround.FOMO This is especially true if the coin has been a dominant player on the market for a long time.
The Future of IoTeX, (IOTX), Looks Bright
IoTeX is located in Silicon Valley. It is supported worldwide by 30+ top-tier engineers and researchers from companies such as Google, Uber, Bosch, and other. This project includes Raullen Chai (Uber Head of Cryptography), Qevan Guio (Facebook Product Lead in Machine Learning) and many other highly qualified professionals.
IoTeX also uses the IoT (Internet of Things) concept. The Internet of Things connects all aspects of our environment in new and innovative ways. It makes it possible to easily connect everything around you to the internet. IoTeX could play a significant role in the IoTeX revolution. IoTeX’s goal is to create an environment where humans and machines can interact in a safe and secure manner.
IoTeX will be a dominant player in the IoT sector. This will be good news for IoTex, IOTX Cryptocurrency Holders as the price could rise once more. This is not necessarily true as there are many competitors on the market offering the same or a better solution.
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