Date: Mon, Sept 15, 2025 | 06:05 AM GMT
The cryptocurrency market continues to show strength amid the anticipated potential US Federal Reserve rate cuts this week, with Ethereum (ETH) trading near $4,650 after posting 8% weekly gains. Riding on this momentum, several major altcoins are flashing bullish setups — including io.net (IO).
IO has delivered an impressive 31% gain over the past week, but what’s more important is the structure on its chart. The token has completed a textbook breakout and retest formation, signaling that further upside may be on the horizon.
Retests Falling Wedge Breakout
For weeks, IO was constrained inside a falling wedge pattern, a well-known bullish reversal setup. Recently, the token bounced sharply from its $0.51 support base, climbing through the wedge’s descending resistance and confirming a breakout around $0.689.
As often happens after such breakouts, IO pulled back to retest the breakout zone near $0.618, where buyers stepped in again. This retest validated the breakout, and IO has since rebounded strongly, now trading near $0.698 — just under the critical 200-day moving average (200 MA) resistance at $0.757.
What’s Next for IO?
The retest looks constructive, suggesting that IO has built a solid foundation for a potential bullish continuation. If the token manages to decisively clear the 200 MA resistance, it could act as the spark for a larger rally. The breakout projection points toward a target of around $1.24, representing a substantial upside from current levels.
Until that confirmation arrives, traders may remain cautious, but momentum is tilting in favor of the bulls. A breakout above the 200 MA could quickly accelerate buying interest and put IO firmly back on the bullish track.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.