IOST has been mimicking the broader market in terms of price action since late July. Over the past month, IOST has been on a steady rise, with most of its gains attributed to market support. However, unlike some few top gainers, IOST failed to make an all-time high during this rebound. Nevertheless, the gains have allowed the coin to create new monthly highs.
IOST is trading at $0.0445 at the time of writing after a 5.9% gain in 24 hours.
IOST Price Analysis
The gains made by the token in the past 24 hours have been significant. The highest peak for the coin during intraday trading sessions in the past day was $0.045. However, the altcoin failed to maintain this level and instead made a downtrend.
The market support was weak in the past 24 hours. However, buying support remained strong to allow the token to move towards higher ground. The slight slump from $0.045 could have been caused by selling pressure, given that the broader market support is still weak. However, if traders continue accumulating, we could see the coin retesting the high levels again.
If there is a dip at the current level, the token could go lower to retest the support of $0.042. Further market bears could push IOST even lower to $0.035, especially if market support fails to hold.
The IOST blockchain is venturing into non-fungible tokens after gaining a major endorsement. The IOST blockchain will host the NFT marketplace of Japan’s MMA and Fighting Federation RIZIN. This is a huge boost for the coin, and it could increase the value of its token, given that NFTs is an area that has been booming massively in recent years.
Where to Buy IOST
If you want to buy IOST, you can create a cryptocurrency exchange account on the following platforms:
eToro is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. If you are a new trader, eToro will make it easy for you to trade crypto on the platform, as it supports features such as copy trading and low fees.
The other platform that supports IOST is OKEx. OKEx is one of the largest cryptocurrency exchange platforms. The exchange offers access to a wide portfolio of cryptocurrencies and trading pairs. OKEx is also supported in many countries, which makes it accessible to many users worldwide.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provide.