IOST

IoTeX

Date: Sun, Nov 24, 2024, 12:09 PM GMTThe cryptocurrency market is riding a wave of bullish momentum, with Bitcoin (BTC) surging by over 40% in the last month and recently reaching a historic all-time high of $99,655. Riding on this market enthusiasm, several token narratives—such as <a href="https://coinsprobe.com/top-ai-tokens-render-and-grt-gains-bullish-momentum-following-key-breakouts-is-a-rally-ahead/" rel="noopener noreferrer nofollow">AI</a>, <a href="https://coinsprobe.com/axie-infinity-axs-gears-up-for-a-major-breakout-is-a-big-rally-on-the-horizon/" rel="noopener noreferrer nofollow">Gaming</a>, and <a href="https://coinsprobe.com/sand-and-mana-makes-comeback-will-the-next-move-confirm-metaverse-rally/" rel="noopener noreferrer nofollow">Metaverse</a>—have witnessed impressive rallies.One emerging narrative catching attention is IoT-focused tokens. In particular, NKN, IOST, and IoTeX are showing significant bullish signals on their price charts, signaling potential reversals after extended downtrends.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c4b609210a30436085bad031b7bf9a93.png" />Source: CoinmarketcapBelow, we provide detailed technical insights into these tokens.<h3 id="1-nkn-nkn">1. NKN (NKN)</h3>Currently trading at $0.1023, NKN has successfully broken above a three-year-long descending trendline, signaling a major bullish shift.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2438a7e7735849aebaa0376d8a27da7f.png" />This breakout was confirmed after the price crossed the key support and resistance zone around $0.0827, which had previously acted as a significant barrier during the prolonged downtrend. The breakout from this level marks a critical point for NKN, suggesting that the token could be entering a new upward trajectory.The next key level to watch is $0.1296. If NKN can close above this point, it would validate the breakout and open the path for a larger rally. Beyond this, the price could target $0.2196 and $0.3427, with the latter offering the potential for a 3x upside from current levels.The RSI (Relative Strength Index) is currently hovering above 55, reflecting growing bullish momentum.<h3 id="2-iost-iost">2. IOST (IOST)</h3>Currently trading at $0.007025, IOST is showing signs of a potential reversal after breaking through a key multi-year support zone.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b3feaea35a1e42d999e164a943c2ed6a.png" />This support level had been a significant point of accumulation during the long downtrend. The recent price movement above this level suggests that IOST may be shifting gears toward a bullish phase. If it sustains above this level, it could indicate that a breakout is underway, setting the stage for a potential rally.The first major resistance level to keep an eye on is $0.016. A successful move above this level would confirm the breakout and open the way for further price action. Beyond this, the price could target higher resistance levels at $0.025 and $0.035, marking significant milestones on the path to recovery.The RSI (Relative Strength Index) is currently hovering above 53, indicating that momentum is on the rise and that bullish sentiment is building.<h3 id="3-iotex-iotex">3.IoTeX (IOTEX)</h3>Currently trading at $0.04432, IoTeX has recently broken above a multi-year descending trendline, signaling a bullish reversal.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8584f7f17442454b879ec4798c2fb12e.png" />This breakout was confirmed as the price crossed the significant support and resistance zone around $0.043, which had been a major barrier during the prolonged downtrend. With the price now firmly above this level, IoTeX is poised for potential upward movement, and this breakout could be the beginning of a larger rally.The immediate resistance level to watch is $0.055. A close above this level would solidify the breakout and increase the likelihood of further upside. The next major resistance levels are $0.086 and $0.091, with the latter potentially representing a strong point for profit-taking and a key level for further bullish continuation.The RSI (Relative Strength Index) is currently above 52, signaling that bullish momentum is building.<h3 id="market-momentum-and-iot-narratives">Market Momentum and IoT Narratives</h3>The IoT token narrative is gaining traction due to the rising adoption of blockchain in Internet-of-Things applications. These tokens aim to provide decentralized infrastructure for IoT devices, which could become a major growth area in the next bull cycle. The technical breakouts in NKN, IOST, and IoTeX reflect growing investor interest in this space.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.Also Read: <a href="https://coinsprobe.com/sand-and-mana-makes-comeback-will-the-next-move-confirm-metaverse-rally/" rel="noopener noreferrer nofollow">SAND and MANA Makes Comeback: Will The Next Move Confirm Metaverse Rally?</a>

IoT Tokens NKN, IOST, and IOTEX Breakouts From Long Downtrend: What's Ahead?

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