SelfKey Price Prediction: Will KEY Price Hit $0.01 in 2023?

Key Takeaways:

• The Selfkey price witnessed a massive upswing in the recent past but soon lost most of its gains 
• The bulls appear to be accumulating gains at present and hence after consolidation, a significant upswing may be imminent
• The token has just begun to start attracting profits as the volatility has also surged notably 

SelfKey Price History

• Selfkey began its trading journey in January 2018 and since then has remained under extreme bearish pressure
• The price which marked an ATH during its inception dropped through the year 2018 and marked the bottom around $0.0027
• The price remained largely stagnant at around $0.003 throughout 2019 and 2020 and failed to spark a bullish momentum
• However, the 2021 bull run, triggered a massive upswing where the price soared by more than 2000% and marked interim highs around $0.034.
• As the market trend began to change, the price dropped and lost more than 80%of its value throughout 2022 and marked the bottom close to $0.002 by the end of the year

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SelfKey Technical Analysis

Source: Tradingview

• The resistance and the support levels of the Selfkey price have been largely diminished as it continues to trade within a decisive symmetrical triangle
• The ADX which determines the strength of the rally is trading along the lower support which indicates the price may remain consolidated around the 0.382 FIB levels for some more time
• These FIB levels are required to flip from one of the major resistance to major support levels, which may further trigger a significant price action toward the north
• However, the next target levels at 0.618 FIB levels at $0.0105 appears to be quiet distant which may be a little tedious job without the interference of bulls

Overview of SelfKey On- Chain Analysis:

SelfKey Sharpe Ratio

Source: Messari.io

The Sharpe ratio is used to determine the risks or the profit associated with the investment done over the token. It determines the risk-adjusted relative returns by comparing the investment’s projected returns with the expected returns on the investment. A Sharpe ratio above 1 is generally considered a good ratio that offers excess returns relative to volatility. 

The ratio has just surged beyond 1 after facing an extreme plunge below -1 in recent times. This indicates that the investment in the token which was under risk has just begun to attract some profits. Unless the levels remain above 1, KEY may be considered a profitable investment. 

SelfKey Volatility

Source: Messari.io

The volatility of the token is nothing but the rate at which the price fluctuates forming massive movements regardless of the direction of the rally. The rise and drop in the volatility completely depend upon the user activity, meaning the buys or sells trade performed by the market participants which directly impacts the token’s price. 

The token’s volatility had surged massively since the beginning of February 2023 after maintaining a low-key trend for a long time. Woefully, the volatility has dropped heavily in the last few days which has compelled the price to remain within very narrow ranges. Presently, no bullish divergence is witnessed and hence the price is believed to continue to trade within a narrow range for a long. 

SelfKey Price Prediction for 2023

The bearish trend which kicked off in the last few weeks of 2021, prevailed throughout 2022. The price began to surge at the beginning of the year and jumped above $0.01 from a low of around $0.004. The price is expected to remain inflated in the coming days once the bearish clouds fade away to a large extent. 

The price is believed to regain the lost levels above $0.01 in a short while from now and further close the Q1 trade above $0.014. The price may remain elevated during quarter 2, during which, the token may face certain bearish pressure. However, it may manage to close the trade at around $0.015. The second half of 2023 may be largely bullish as the prices may rise high to close the trade around $0.025.

SelfKey Price Prediction for 2024

The price may remain bullish since the beginning of 2024 and spark a fine upswing in the days ahead. The upswing may intensify in the second quarter of 2024 and transform into a bull run by the end of H1 2024. The price may close the half-yearly trade at around $0.08 to $0.095 and maintain a healthy upswing thereafter. 

The KEY price may intensify its upswing further and rise finely since the beginning of H2 2024. The price may further trigger a massive upswing in Q3 and rise beyond $0.1 initially and maintain its strength until the end of the year. However, by the end of the year, the price may trade around $0.18 to $0.2.

SelfKey PRICE PREDICTION 2025-2030

The SelfKey price may continue rising high since the beginning of 2025 and mark new highs around $0.25. As the bulls get drained out, the price may witness a massive drop and plunge hard by more than 50%. The bearish trend may prevail for the rest of 2025 and throughout 2026 and may also mark the bottom of the bear market. However, the price may halt the bearish trend in 2027 and spark a massive upswing in H2 2027.

The recovery phase may intensify in the second half of 2027 and begin a minor bull run which may get aggressive in 2028. The price may further maintain a steep upswing throughout the year and mark new highs in the first few weeks of 2029. However, the trend is expected to flip and remain consolidated ahead until the end of 2030.

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Should you invest in SelfKey in 2023?

SelfKey price has been largely bearish since its inception and is believed to rebound finely once the bearish clouds fade away. The bulls, who appear to be silent presently, are believed to trigger a decent price rise in the days ahead. However, before investing in SelfKey or any other crypto, deep research on the fundamentals and close observation of the price movements is very important.

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