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The IOST price has soared 17% in the last 24 hours to trade at $0.005057 as of 7 a.m. EST on a 3,794% pump in trading volume to $484 million.
This pump in the IOST price follows a major airdrop announcement. As part of its strategic rebranding and transition to BNB Chain L2 for RWA and PayFi, IOST will distribute 852.8 million tokens, or 4% of new supply.
The airdrop will be supported by Binance, Upbit, BitKub, Coincheck, OKJ, BITPOINT, and CoinTrade.
To qualify, users must hold at least 1,000 IOST tokens on a participating exchange. A snapshot will be taken on March 15, 2025, at 00:00 (UTC).
IOST Price Breaks Out of Bearish Channel For Another Bullish Charge
The IOST/USD 4-hour chart indicates the price was trapped within a well-defined bearish channel, marked by a consistent pattern of lower highs and lower lows.
However, after an extended period of consolidation, the price finally broke out of this bearish channel with a decisive move to the upside, signaling a potential trend reversal.
The major support level, around $0.0036, is critical in absorbing selling pressure and preventing the price from declining further. This zone was tested multiple times before the breakout, confirming its significance.
Meanwhile, a secondary support level at $0.0044 is an important pivot point. If the price holds above this level, it could be a springboard for upward movement.
The price has surged to $0.0051, reflecting strong bullish momentum.
IOSTUSDT Analysis Source: Tradingview
The Relative Strength Index (RSI) is currently at 63.03, which indicates that buying momentum is gaining strength but has not yet reached overbought levels (above 70).
This indicates that there is still an opportunity for further upside before a potential correction.
Additionally, the breakout occurred near the 0.618 Fibonacci retracement level, a critical area that often signals price reversals and trend continuations.
Although the MACD is not visible on the chart, the recent surge in price momentum suggests that the MACD line has likely crossed above the signal line, reinforcing the bullish outlook.
In a bullish scenario, if the price successfully holds above $0.0044, buyers may push the price further toward $0.0055 and possibly higher, targeting the next major resistance zones.
This would confirm a shift in sentiment and could attract more traders into the uptrend.
However, if the price fails to maintain the $0.0044 support level in a bearish scenario, a pullback could see it retrace toward the $0.0036 major support level, potentially invalidating the breakout.
Investors Flock To Solaxy As Its Presale Closes On $26 Million
As the IOST price prepares for another bullish rally, investors are also buying into Solaxy (SOLX), a Solana Layer 2 project currently in a presale that has raised over $25.8 million.
Solaxy’s raise is still performing well even with current market bearish conditions. The project is rolling out its new Layer 2 scaling solution, designed to make transactions faster, cheaper, and more efficient on the Solana network.
Instead of processing everything directly on Solana’s mainnet, transactions first go through a sidechain, reducing congestion and slashing fees.
But that’s not all. Solaxy is also making life easier for developers. The platform offers plug-and-play tools, so building on Solana becomes a smooth and hassle-free experience.
Whether you’re launching a new project or optimizing an existing one, Solaxy aims to keep things fast, scalable, and developer-friendly.
Early investors can also stake SOLX for a massive 158% annual yield.
Market analysts see strong growth potential for SOLX. YouTube channel 99Bitcoins, with over 726K subscribers, predicts SOLX could soar 10X after it launches.
Right now, SOLX is priced at just $0.00166, and you can buy it using ETH, USDT, BNB, or SOL through the official website or a crypto wallet like Best Wallet.
The price is set to increase in a little more than 1 day, so interested investors should by before then to lock in the best deal.
Visit the official Solaxy website.
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