Frax Share (FXS) Price Prediction 2023 – Will FXS Hit $18 Soon?
Bullish Frax Share (FXS) price prediction is $27.994 to $41.644.
Frax Share (FXS) price might also reach $0.5 soon.
Frax Share (FXS) bearish market price prediction for 2023 is $13.730.
In Frax Share’s (FXS) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and much other information about FXS to analyze the future movement of the cryptocurrency.
Frax Share Current Market Status
Current Price
$9.05
24 – Hour Trading Volume
$63,282,043
24 – Hour Price Change
2.1% up
Circulating Supply
72,963,410
All – Time High
$42.80 (On January 12, 202)
FXSCurrent Market Status (Source: CoinGecko)
What is Frax Share (FXS)?
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain currently implemented on Ethereum. The Frax Protocol is a community-driven and unique design stablecoin. over 60% of the supply of FXS is issued over a number of years to liquidity providers and yield farmers. FXS is the governance token that accrues fees, seigniorage revenue, and excess collateral value. The Frax Shares (FXS) tokens are also available and as liquid as the stablecoin.
Frax Share (FXS) Price Prediction 2023
Frax Share holds the 63rd position on CoinGecko right now. FXS price prediction 2023 is explained below with a weekly time frame.
FXS/USDT Horizontal Channel Pattern (Source: Tradingview)
The above chart of Frax Share (FXS) laid out a horizontal channel pattern. Horizontal channel pattern, also known as the sideways trend. In order to indicate how the price is constrained between the upper line of resistance and lower line of support, horizontal channels are trend lines that join changeable price highs and lows.
Currently, FXS is in the range of $9.48. If the pattern continues, the price of FXS might reach the resistance level of $17.050. If the trend reverses, then the price of FXS may fall to $5.875 & $4.114.
Frax Share (FXS) Support and Resistance Level
The below chart shows the support and resistance level of FXS.
FXS/USDT Support and Resistance Level (Source: TradingView)
From the above daily time frame, it is clear the following are the resistance and support levels of FXS.
Resistance Level 1
$13.636
Resistance Level 2
$24.692
Support Level 1
$6.60
Support Level 2
$3.929
FXS/USDT Support and Resistance Level
The charts show that FXS has performed a bullish trend over the past month. If this trend continues, FXS might run along with the bulls overtaking its resistance level at $24.692.
Accordingly, if the investors turn against the crypto, the price of the FXS might plummet to almost $3.929, a bearish signal.
Frax Share Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of FXS is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of FXS lies below the cutoff line, indicating weaker participants in the current trend.
FXS/USDT RVOL, MA, RSI (Source: TradingView)
More so, the FXS’s Moving Average (MA) is shown in the chart above. Currently, FXS is in a bullish state. Notably, the FXS price lies above 50 MA (short-term), so it is completely in an upward trend. Currently, FXS has entered a bearish state. Therefore, there is a possibility of a reversal trend of FXS at any time.
Meanwhile, the relative strength index (RSI) of the FXS is at level 84.48. This means that FXS is in an overbought state. However, this means a major price reversal of FXS may occur in the upcoming days. So, traders need to trade carefully.
Frax Share Price Prediction 2023 — ADX, RVI
Let us now look at Frax Share’s Average Directional Index (ADX). 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.
FXS/USDT ADX, RVI (Source: TradingView)
The above chart represents the ADX of Frax Share. Currently, FXS lies in the range of 49.949, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of FXS. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of FXS lies below the 50 levels, indicating low volatility. In fact, FXS’s RSI is at a 84.48 level thus confirming a potential buy signal.
Comparison of FXS with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Frax Share.
BTC Vs ETH Vs FXS Price Comparison (Source: TradingView)
From the above chart, we can identify the trend of the ETH, BTC, and FXS is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and FXS also increases or decreases respectively.
Frax Share (FXS) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Frax Share (FXS) between 2024 and 2030.
Frax Share (FXS) Price Prediction 2024
With several upgrades in the network, Frax Share (FXS) might enter a bullish trajectory. If the coin grabs the attention of major investors, FXS might rally to hit $22 by 2024.
Frax Share (FXS) Price Prediction 2025
If Frax Share (FXS) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, FXS will rally to hit $28.
Frax Share (FXS) Price Prediction 2026
If Frax Share (FXS) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, FXS would rally to hit $31.
Frax Share (FXS) Price Prediction 2027
If Frax Share (FXS) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, FXS would rally to hit $38.
Frax Share (FXS) Price Prediction 2028
If Frax Share (FXS) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, FXS would hit $44.
Frax Share (FXS) Price Prediction 2029
If investors flock in and continue to place their bets on Frax Share (FXS), it would witness major spikes. Frax Share might hit $50 by 2029.
Frax Share (FXS) Price Prediction 2030
With greater advancements in the Frax Share ecosystem, the crypto community might continue to invest in Frax Share (FXS) for the next 8 years and drive significant price rallies for the token. Hence, Frax Share (FXS) might hit $53 by 2030.
Conclusion
With continuous improvements in the Frax Share network, we can say that 2023 is a good year for Frax Share. For this reason, the bullish price prediction of Frax Share (FXS) in 2023 is $24.692. On the other hand, the bearish price prediction of Frax Share (FXS) for 2023 is $3.929.
Furthermore, with the advancements and upgrades to the Frax Share ecosystem, the performance of Frax Share would help to reach above its current all-time high (ATH) of $9.12 very soon. But, it might also reach $18 if the investors believe that FXS is a good investment in 2023.
FAQ
The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain currently implemented on Ethereum.
FXS has listed on many crypto exchanges which include Binance, Bitget, BingX, Bybit, and BTCEX.
With the ongoing developments and upgrades within the FXS platform, it has a high possibility of reaching its ATH soon.
On January 12, 2022, FXS reached its new all-time high (ATH) of $42.80.
Frax Share (FXS) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of FXS in the past few months, FXS is considered a good investment in 2023.
Frax Share (FXS) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Frax Share (FXS) will hit $18 soon.
Frax Share (FXS) price is expected to reach $22 by 2024.
Frax Share (FXS) price is expected to reach $28 by 2025.
Frax Share (FXS) price is expected to reach $31 by 2026.
Frax Share (FXS) price is expected to reach $38 by 2027.
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.
Filed under: Bitcoin - @ January 19, 2023 2:15 pm