- IOTX flipped $0.0255 resistance into strong support after a price surge.
- Price momentum and volume confirm a breakout from the ascending triangle pattern.
IoTeX (IOTX) has confirmed a bullish breakout, climbing more than 15% over the past week. Analysts had previously identified a tightening ascending triangle, which hinted at possible upward momentum. That prediction has played out, with the price pushing past multiple resistance levels. Market sentiment now leans in favour of continued bullish movement as trading activity intensifies.
Breakout Clears Key Resistance Levels
World Of Charts highlighted on July 15 that a consolidation pattern was forming within a tight ascending triangle. The chart showed repeated tests near the $0.0228 to $0.0230 resistance zone. This buildup pointed to potential bullish strength. By July 21, IOTX surged to $0.02602, gaining more than 15% and confirming the pattern’s breakout.
The move pushed beyond both the triangle’s upper boundary and horizontal resistance. A measured target of 15.76% from the breakout is already in motion. Volume has risen in tandem, reinforcing buyer control. The former resistance zone at $0.0230 now acts as support. Analysts note that the extended consolidation period has shifted to a clear upward trend, with structure favouring bulls in the near term.
Momentum Targets $0.0270 With Strong Support Holding
At press time, IOTX is trading at $0.02631, marking a 10.08% daily increase. After holding above the key $0.0237 support level, the price advanced further, flipping $0.0255 from resistance into support. This confirms continued bullish strength in the short term.
The next key resistance level lies at $0.0270. A breakout beyond this point may trigger further upside. Technical sentiment remains positive, with IOTX sustaining higher lows and steady demand. Market participants have responded to the breakout with increased confidence, and the structure suggests further movement if buyers maintain momentum.
World Of Charts continues to monitor the token closely. The ascending triangle setup has played out as predicted, and IOTX remains positioned above critical support levels. With volume and trend aligning, analysts expect the bullish structure to remain valid heading into the next sessions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
