- IOTX holds $0.029 support after breakout, with price structure intact on daily and 4H charts.
- Nearly 98% of IOTX supply locked, burned, or in cold wallets, tightening market float.
- IoTeX outpaces mid-cap peers with 38% monthly gains, leading Arkham and Mina.
IoTeX (IOTX) is holding its ground above a major breakout level, supported by strong technicals and rare on-chain supply dynamics, putting bulls in a position to target fresh highs in the coming weeks.
Breakout Holds as Bulls Tighten Grip
For months, IoTeX has been climbing within an ascending channel, marking higher highs and higher lows since March. The structure finally gave way to a breakout on August 6, pushing price above $0.029–$0.030 resistance on strong volume. That move carried IOTX to $0.034 before sellers stepped in. The pullback stopped right where bulls needed it to — the breakout zone.
On the daily timeframe, both the 9 EMA ($0.02973) and 50 EMA ($0.02450) point upward, with price trading above them at $0.03099. On the 4-hour chart, RSI sits at 57.49, well below overbought territory, while MACD shows green momentum building. Each rejection from $0.032 over the past weeks has been followed by a higher low, keeping the short-term trend intact.
Supply Squeeze Builds Pressure
Exchange balances have dropped 58% this year, with 342.42M IOTX (~$9.78M) flowing out. Fresh wallets pulled 364.13M tokens from Coinbase in the last four months at an average price of $0.02468.
Long-term holders now control 9.789B IOTX including 6.748B burned and nearly 2B staked. This leaves just 2% of the total supply actively tradable. This extreme scarcity means even moderate demand could trigger outsized price swings.
Outperforming the Mid-Cap Pack
IoTeX is among the best ranking projects with a market cap of less than $300M.It has a market cap of $292M , trailing only Dash and Kaito in its category. Over the past 30 days, IOTX surged 38%, outpacing Arkham (+21.8%) and Mina (+17.7%).
Market capitalization has climbed from under $200M in mid-July to near $300M, despite sharp but short-lived pullbacks. Each dip has met swift buying, keeping the larger bullish trend alive.
