IX SWAP -Token price rose for four consecutive days and reached the highest level since 4 March.
IX SWAP (IXS) climbed to a highlight of $ 0.2692, which marked an increase of 155% compared to the LOS Point of April.
The rally coincided with a sharp increase in the activity on the chain, because the number of active addresses jumped to 300, the highest since February. This peak in involvement probably reflects increased participation of the retail trading driven by fear of missing.
A good example of this is that his social dominance rose to 0.024%, the highest point since June last year. Network growth also rose to 176, higher than last week’s low point of 12.
There was no specific news catalyst behind the IXS -increase. As such, the move can be part of a pump and dump pattern, which is common with thin-traded tokens with a low cap.
IXS currently has a market capitalization of $ 42 million, with the majority of its trade volume concentrated on Uniswap (Uni). The token is not mentioned on large Tier-1 exchanges such as Binance, Coinbase or Upbit.
Another potential factor behind the move can anticipate an important announcement, such as a new partnership or exchange list. It is common for Crypto -Tokens to collect such news before.
Fundamentally, the IXS ecosystem remains relatively weak, with total value locked (TVL) in the network just $ 449,844.
The IXS platform enables Bitcoin (BTC) holders to earn inactive assets by earning yields between 4% and 10% without selling. Users promise BTC as collateral, receive USDT and implement it in regulated, fixed income Real-World assets.
IXS Crypto Price Technical Analysis
The daily graph shows that IXS is at $ 0.1370 Bottom last week before he gathered up to $ 0.2676 on Monday, the highest point since March. The token traded shortly above the exponential advancing averages of 50 days and 100 days, as well as the Ichimoku Cloud indicator.
Given this competitive movement, a withdrawal in the short term probably seems to take on the profit. If this happens, the price could fall to the lower limit of the canal near $ 0.1398. Conversely, a breakout above the upper limit of the channel at $ 0.2676 would open the door for further profit, with the next resistance at the 50% Fibonacci retraction level of $ 0.3980.
