IoTeX (IOTX/USD) price prediction

Summary:

IoTeX (IOTX/USD) price rose on Wednesday and Thursday after announcing key partnerships.

The company announced its partnership with Travala, enabling IOTX payments for 3M+ flights, hotels and tours.

NOWPayments also announced IOTX as the latest in its growing long list of supported coins.

On Thursday, IoTeX (IOTX/USD) price extended Wednesday’’s overnight gains to $0.500 before pulling back later to settle at around $0.353. IOTX spiked following Tuesday’s conference and the announcement of two key partnerships.

IOTX is now the latest addition to the long list of coins supported by NOWPayments. In addition, the company also announced its partnership with Travala.com, a travel platform, allowing users to make IOTX payments for 3M+ flights, hotels and tours. 

The link-up with the two platforms enhances IoTeX’s profile, thus boosting its long-term growth prospects. 

IoTeX is a decentralised platform that wants to disrupt the Internet of Things industry by offering an auto-scalable and privacy-centric blockchain infrastructure. Its goal is to build a connected world where everyone owns their data, devices and identity, a statement on the company’s website states.

IOTX looks like an exciting opportunity

From an investment perspective, IoTeX targets one of the most exciting markets in the technology sector. With companies becoming heavily reliant on timely information, the Internet of Things could be one of the best places to invest in.

Therefore, combining it with blockchain technology creates a unique opportunity for crypto enthusiasts.

The IOTX price seems to be trading within an ascending channel formation in the hourly chart. It recently spiked to the overbought conditions of the 14-hour RSI, before pulling back late on Thursday.

Therefore, investors could target extended rebound profits at about $0.4098, or higher at $0.5000, while $0.2676 and $0.1923 are crucial support zones.