IoTeX (IOTX) has confirmed a bullish breakout, climbing over 15% over the past week. Analysts note an upward trend and a positive market atmosphere.
Breakout Clears Key Resistance Levels
On July 15, analysts at World Of Charts highlighted the formation of a consolidation pattern within a tight ascending triangle. The chart indicated 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 over 15% and confirming the breakout.
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.
Prospects for Further IOTX Growth
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. 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.
