IoTeX (IOTX) surges 15% in a week, breaking resistance at $0.0230

IoTeX (IOTX) has experienced a significant price surge, climbing more than 15% over the past week. This upward momentum was anticipated by analysts who had identified a tightening ascending triangle pattern, which suggested potential bullish strength. The price has pushed past multiple resistance levels, with market sentiment now favoring continued bullish movement as trading activity intensifies.

On July 15, it was highlighted 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, indicating potential bullish strength. By July 21, IOTX surged to $0.02602, confirming the pattern’s breakout. The move pushed beyond both the triangle’s upper boundary and horizontal resistance, with a measured target of 15.76% from the breakout already in motion. Volume has risen in tandem, reinforcing buyer control. The former resistance zone at $0.0230 now acts as support, and analysts note that the extended consolidation period has shifted to a clear upward trend, with structure favoring bulls in the near term.

At the time of reporting, 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.

Analysts continue 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.