IDEX Price Soars 24% with 894% Volume Spike as Analyst Predicts a 35% Uptrend

Highlights:

• IDEX Price has spiked 24% to $0.0453 as trading volume soars.
• Despite the rally, crypto analysts say major whales are booking profits, which could lead to short-term pullbacks.
• IDEX remains in a strong uptrend, but traders should watch for potential volatility due to profit-taking.

The IDEX price has skyrocketed 24% in the last 24 hours, trading at $0.04531 as of 11 AM EST, with trading volume surging 894% to $83 million. The IDEX token powers the IDEX decentralized exchange, serving as the backbone for its operations and network security. Holders can stake IDEX to earn rewards and participate in the platform’s governance.

According to CryptoBull360, IDEX has surged 30% following a breakout, marking a strong bullish rally. The price action indicates a clear breakout from a consolidation phase, likely a symmetrical triangle or wedge, which often signals trend continuation. Strong buying momentum has driven this upward movement, pushing IDEX into a higher price zone.

#IDEX did 30% strong bullish rally since our breakout alert yesterday!! Congrats traders who did participated on this party! Major whales booking profits on this zone – Keep an eye on$IDEX #IDEXUSDT https://t.co/xRfHf2Ccmb pic.twitter.com/q7RVsiv2KV

— CryptoBull_360 (@CryptoBull_360) February 12, 2025

However, CryptoBull360 also highlights that major whales are booking profits, which could lead to short-term pullbacks. Whale activity at key resistance levels often results in temporary corrections before the next move. If IDEX can sustain its gains above the breakout level, further upside is possible, but rejection could trigger a retest of support zones.

IDEX remains in a strong uptrend, but traders should watch for potential volatility due to profit-taking. Monitoring trading volume and key support levels will determine whether the rally can continue.

IDEX Statistical Data

Based on CoinmarketCap data:

• IDEX price now – $0.0458
• Trading volume (24h) – $80.78 million
• Market cap – $42.84 million
• Total supply – 1 billion
• Circulating supply – 922.61 million
• IDEX ranking – #622

IDEX Price Breaks out of a Descending Channel; Eyes on $0.05357 Resistance

The price of IDEX/USD has made a strong comeback, climbing 8.70% to $0.04617 after bouncing off the 200-day moving average (MA200) at $0.04575. This move comes as the token breaks out of a descending channel, signaling a potential trend reversal after weeks of decline.

The next key test for bulls will be the 50-day moving average (MA50) at $0.05357, which has historically acted as a resistance level. A breakout above this mark could pave the way for further gains, with the next major target set around $0.08-$0.10, where IDEX last peaked in December 2024.

Technical Indicators Show Renewed Bullish Momentum

Technical indicators are showing signs of renewed bullish momentum. The Relative Strength Index (RSI) has climbed to 52.62, crossing above the neutral 50 level, often seen as a shift toward buyer control. Meanwhile, the MACD (Moving Average Convergence Divergence) indicator is nearing a bullish crossover, with the MACD line approaching a move above the signal line.

Additionally, the histogram is turning positive, further reinforcing the growing buying pressure. IDEX could see a sustained upward move in the coming sessions if this trend continues.

However, traders remain cautious as the 50-day MA at $0.05357 remains a critical resistance level. A failure to break above it could result in price consolidation or even a retest of lower support levels. On the downside, $0.04575 (200-day MA) serves as strong support, followed by $0.04, which could act as a psychological floor if bearish pressure increases.

Market sentiment is shifting as bulls regain control, but confirmation of a trend reversal will require a decisive close above $0.05357. If that happens, IDEX could be positioned for a rally toward its previous highs. Traders will watch closely to see if the momentum holds in the coming days.