Frax Share (FXS) Price Prediction 2023-2030: Will FXS Price Hit $15 Soon?

Bits Logics Team . 14th Sep 2023

• Bullish Frax Share (FXS) price prediction ranges from $10 to $15
• Analysis suggests that the FXS price might reach above $13.5.
• The FXS bearish market price prediction for 2023 is $4.

Frax Share (FXS) Price Prediction 2023-2030 Overview

What is Frax Share (FXS)?

The Frax Protocol is an innovative financial system that introduces the concept of a fractional-algorithmic stablecoin.

Frax is designed to be open-source and permissionless, residing entirely on the Ethereum blockchain, with the potential for cross-chain expansion in the future. Its ultimate goal is to offer a scalable, decentralized alternative to fixed-supply digital assets like BTC.

The Frax Protocol maintains a dynamic balance between collateralized and algorithmic components, adjusting based on the market price of the FRAX stablecoin.

Community governance is at the protocol’s core, emphasizing autonomy and minimizing active management. To obtain real-time price data, Frax v1 relies on on-chain oracles, including Uniswap and Chainlink.

The system comprises two tokens: FRAX, the stablecoin targeting a $1 price point, and Frax Shares (FXS), the governance token that accumulates fees and collateral value. This approach distinguishes Frax from other stablecoins, introducing a new category of fractional-algorithmic stability.

Frax Share (FXS) Market Overview

Frax Share (FXS) Current Market Status

The maximum supply of Frax Share (FXS) is unknown, while its circulating supply is 73,541,039 FXS, according to CoinMarketCap. At the time of writing, Frax Share is trading at $5.39 representing 24 hours increase of 3.71%. The trading volume of Frax Share in the past 24 hours is $13,258,700 which represents a 0.68 % decrease.

Some top cryptocurrency exchanges for trading Frax Share are Binance, Bithumb, Uniswap (V2) and Kraken.

Now that you know Frax Share and its current market status, we shall discuss the price analysis of  Frax Share FXS for 2023.

Frax Share (FXS) Technical Analysis 2023

FXS/USDT 1-Day Chart (Source: Tradingview) 

When looking at the chart above, it could be noted that FXS has been decreasing in value since reaching its maximum price during the spike it had at the beginning of 2023. This motion of falling came to a stall during the mid-week of June 2023. Thereafter, FXS was consolidating. 

Considering the Bollinger bands, we could see that FXS is currently rising towards the SMA. If buyers keep entering the market, then, there is a high chance that FXS could go past the SMA and reach the upper Bollinger band. Moreover, the Bollinger band super trend indicator shows that FXS is now on a downtrend. 

Furthermore, we could also spot a bullish divergence when taking a look at the Elder Force Index (EFI). The EFI was making higher lows when the cryptocurrency was making lower lows. Moreover, the EFI line states a value of -8.836 K and the line seems to be traveling upwards. As such, this denotes the presence of buyers and the possibility of the EFI crossing the zero line. 

Frax Share (FXS) Price Prediction 2023

FXS/USDT 1-Day Chart (Source: trading view) 

The above chart shows that FXS has been moving inside a falling wedge since the beginning of 2023. It made lower lows and lower highs and at times broke below the lower trendline but abode by the upper trendline. Currently, as per the chart FXS has been touching the upper trendline in the recent past. As such, it has the potential to rebound off of the upper trendline and fall back to the lower trendline. 

However, when FXS breaks out of the falling wedge, it may go bullish if it breaks out conventionally. Given that FXS breaks out conventionally, we could expect it to reach the resistance at $13.5 once it breaks the resistance at $10.5.  

In the event that FXS crashes and falls, it has only one support level at $4. If the bears are persistent, then, they could push FXS to deeper support levels. 

Frax Share (FXS) Price Prediction 2024 

As there will be BTC halving in 2024, the masses will expect a positive trend in the market and there is a high chance that investors could accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum spike for BTC. Hence, FXS also could trade at a price, not below $27 by the end of 2024.

Frax Share (FXS) Price Prediction 2025

Frax Share may harvest the after-effects of the Frax Share halving and is intuitively expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, FXS will continue to rise in 2025 forming new resistance levels. It is expected that FXS will trade beyond the $50 level.

Frax Share (FXS) Price Prediction 2026

After a long period of bull run, the market may start to correct the price of BTC. During this period there could be a bearish sentiment, as such BTC could tumble into its support regions. During this period of price correction, FXS could lose momentum and be way below its 2025 price. As such, it could be trading at $20.6 by 2026. 

Frax Share (FXS) Price Prediction 2027

There is a tendency for traders to expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Frax Share halving in 2028 could evoke excitement in traders. As such, this excitement may be reciprocated in FXS’s prices and we could expect Frax Share to trade at around $38.5 by the end of 2027. 

Frax Share (FXS) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Frax Share halving, there will be a positive sentiment in the market. As such, this may be reflected in the price of BTC. Hence, FXS would be trading at $56 after experiencing a considerable surge by the end of 2028. 

Frax Share (FXS) Price Prediction 2029

2029 is expected to be another bull market as the BTC halving takes effect. In tandem with the stable market sentiment, FXS could be trading at $100 by the end of 2029.

Frax Share (FXS) Price Prediction 2030

After witnessing a bullish run in the market, BTC and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, FXS could be trading at $88.

Frax Share (FXS) Price Prediction 2040

The long-term forecast for BTC  indicates that it has the potential to reach a new all-time high(ATH). As this will be the year of BTC halving people would be excited and the buyers would be accumulating ENJ. Hence, the price of ENJ could be trading at $120. 

Frax Share (FXS) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such FXS could reach $250.

Conclusion

If investors continue showing their interest in FXS and add these tokens to their portfolio, it could continue to rise. FXS’s bullish price prediction shows that it could reach the $13.5 level. 

FAQs

Disclaimer: The information and analysis are intended for informational purposes only. All views and opinions expressed should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research before making any investment decisions. Any actions taken based on the information presented by Bits Logics are at the reader’s own risk. The author or any affiliated parties shall not be held liable for any direct or indirect damages or losses resulting from such actions.