IoTeX (IOTX) Price Prediction 2022 — Will IOTX Hit $0.5 Soon?

• Bullish IOTX price prediction is $0.04471 to $0.17153.
• IoTeX (IOTX) price might also reach $0.5 soon.
• Bearish IOTX price prediction for 2022 is $0.02477.

In IoTeX (IOTX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about IOTX to analyze the future movement of the cryptocurrency. 

IoTeX (IOTX) Current Market Status

According to CoinGecko, the price of IoTeX (IOTX) is $0.029115268519 with a 24-hour trading volume of $4,914,605 at the time of writing. However, IOTX has increased by nearly 0.1% in the last 24 hours. 

Moreover, IoTeX (IOTX) has a circulating supply of 9,378,852,764 IOTX. Currently, IoTeX (IOTX) trades in cryptocurrency exchanges such as Binance, KuCoin, Gate.io, Coinbase Exchange, Upbit and Huobi Global. 

What is IoTeX (IOTX)?

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

IoTeX is aiming to become like the spinal cord and nervous system of IoT systems.IoTeX is designed to connect the physical world of internet devices block by block and will be both fast and scalable. IOTX token is an ERC-20 token that will be swapped to a native token. Once swapped the native token will take the ticker symbol IOTX and will be mineable for the next 50 years. IOTX can be stored in any ERC-20 compatible wallet, however, once it is swapped for the native IOX token that native IoTeX wallet will need to be used.

IoTeX (IOTX) Price Prediction 2022

IoTeX (IOTX) holds the 134th position on CoinGecko right now. IOTX price prediction 2022 is explained below with a daily time frame.

The above chart of IoTeX (IOTX) laid out the Descending Channel pattern. Descending Channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.

Currently, IoTeX (IOTX) is in the range of $0.029115268519. If the pattern continues, the price of IOTX  might reach the resistance levels of $0.04340, $0.11217, and $0.26807. If the trend reverses, then the price of IOTX may fall to $0.02284. 

IoTeX (IOTX) Support and Resistance Levels

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

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for IoTeX (IOTX). 

Resistance Level 1	$0.04471
Resistance Level 2	$0.06797
Resistance Level 3	$0.11748
Resistance Level 4	$0.17153
Support Level	$0.02477

The charts show that IoTeX (IOTX) has performed a bullish trend over the past month. If this trend continues, IOTX might run along with the bulls overtaking its resistance level at $0.17153.

Accordingly, if the investors turn against crypto, the price of IoTeX (IOTX) might plummet to almost $0.02477, a bearish signal.

IoTeX (IOTX) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of IoTeX (IOTX) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of IOTX lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of IoTeX (IOTX) is shown in the chart above. Notably, the IoTeX (IOTX) price lies below 50 MA (short-term), so it is in a downtrend. Currently, IOTX has entered a bearish state. Therefore, there is a possibility of a reversal trend of IOTX at any time.

Meanwhile, the relative strength index (RSI) of the IOTX is 48.30. This means that IoTeX (IOTX) is in a nearly oversold state. However, this means a major price reversal of IOTX may occur in the upcoming days. So, traders need to trade carefully. 

IoTeX (IOTX) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of IoTeX (IOTX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of IoTeX (IOTX). Currently, the ADX of IOTX lies in the range of 8.61694 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of IoTeX (IOTX). RVI measures the constant deviation of price changes over a period of time. The RVI of IOTX lies above 50, indicating high volatility. In fact, the RSI of IoTeX (IOTX) is at 48.30 thus confirming a potential buy signal.

Comparison of IOTX with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  IoTeX (IOTX).

From the above chart, it can be interpreted that ETH, BTC, and IOTX are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and IOTX also increase or decrease respectively.

IoTeX (IOTX) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  IoTeX (IOTX) might probably attain $1 by 2023.

IoTeX (IOTX) Price Prediction 2024

With several upgrades in the network, IoTeX (IOTX) might enter a bullish trajectory. If the coin grabs the attention of major investors, IOTX might rally to hit $2 by 2024. 

IoTeX (IOTX) Price Prediction 2025

If IoTeX (IOTX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, IOTX would rally to hit $3. 

IoTeX (IOTX) Price Prediction 2026

If IoTeX (IOTX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, IOTX would rally to hit $4. 

IoTeX (IOTX) Price Prediction 2027

If IoTeX (IOTX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, IOTX would rally to hit $5.

IoTeX (IOTX) Price Prediction 2028

If IoTeX (IOTX) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, IOTX would hit $6 in 2028.

IoTeX (IOTX) Price Prediction 2029

If investors flock in and continue to place their bets on IoTeX (IOTX), it would witness major spikes. IOTX might hit $7 by 2029.

IoTeX (IOTX) Price Prediction 2030

With greater advancements in the IoTeX ecosystem, the crypto community might continue to invest in IOTX for the next 8 years and drive significant price rallies for the token. Hence, IoTeX (IOTX) might hit $8 by 2030.

Conclusion

With continuous improvements in the IoTeX network, we can say that 2022 is a good year for IOTX. For this reason, the bullish price prediction of IoTeX (IOTX) in 2022 is $0.17153. On the other hand, the bearish price prediction of IoTeX (IOTX) price prediction for 2022 is $0.02477.

Furthermore, with the advancements and upgrades to the IoTeX ecosystem, the performance of IOTX would help to reach above its current all-time high (ATH) of $0.255593 very soon. But, it might also reach $0.5 if the investors believe that IOTX is a good investment in 2022.

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

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