The crypto market has started this month with a major rebound, which if maintained, could see majority of coins make new all-time highs. Currently, bitcoin has managed to hold $50K, while ethereum is at a strong $3800. This upswing has contributed to gains across the broader market, and IOST is among the coins that have made the highest gains.
IOST is trading at $0.0598 at the time of writing after a 30.5% gain in 24 hours.
IOST Price Analysis
IOST’s upswing in the past 24 hours has been one of the most impressive in the crypto charts. The gains have allowed IOST to create new monthly highs. With the broader market support and buying pressure, IOST’s gains could hold in the coming days.
IOST is facing a major resistance at $0.062. This resistance level will be broken out of if the bullish sentiment across the broader market holds. If it manages to break past this level, we could see the coin heading towards even higher levels of $0.064 and beyond. However, intense buying pressure is needed for the token to break past the next major levels of $0.1.
On the other hand, the uptrend could fail, and in this case, the coin will test the lower support level of $0.058. Before the 24-hour bull run, IOST was trading at $0.049, and if supportive elements such as the broader market and buyers are no longer in play, we could see a retest of lower levels.
The recent IOST upswing is also attributed to the recent listing by crypto exchange platform, OKCoin Japan. This is one of IOST’s major milestones, as it will give the coin the platform needed to meet its objectives of global expansion and adoption.
The IOST blockchain also continues to push for interoperability by developing cross-chain bridges. Recently, IOST partnered with Binance Smart Chain to launch a cross-chain bridge on KokomoSwap. This will allow the two blockchains to work together, and boost efficiency.
Where to Buy IOST
To buy IOST, you can create a cryptocurrency exchange on the following platforms:
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