XDC, IOTA, and AIOZ Poised to Kick-start a New Rally, Here's What's Next

Crypto markets kicked off a fresh rally on Monday, with prices surging across the board.

Of the top 100 cryptocurrencies by market capitalization, XDC Network (XDC) led the gainers, surging by over 75% since the start of the year. The token is now trading very close to its all-time high (ATH) of $0.1939, which was set in April 2021.

The rally in XDC price comes as the token is nearing a breakout from a bullish pennant formation on the weekly chart. The pennant pattern is usually bullish and forms when the price makes a sharp move up, followed by a period of consolidation with decreasing volume. A breakout from this pattern could see XDC price rally by 60% in the first phase, pushing the token price above $0.2 in the upcoming days.

The token attracted a massive amount of volume throughout 2024, which brought up the possibility of forming a new ATH soon. Interestingly, the relative strength index (RSI) is displaying a similar action as in 2021, hinting towards a probable bullish rebound. Meanwhile, the OBV also remains incremental, suggesting the continuation of a bullish trend. Hence, we can expect the XDC price to move up to the resistance zone between $0.139 and $0.15 and after breaking these levels, a new ATH at $0.21 could be on the cards.

Another strong performer among the top cryptocurrencies was IOTA (IOTA), which rose by over 20% in the past 24 hours. The token broke above the bearish influence before the end of 2024 and has been consolidating around the gained levels.

While the 200-day exponential moving average (EMA) offered a strong base for over a few days, a 20% rise from the current levels could validate a 65% rally in the second half of the month. However, marking new yearly highs may not be easy for the IOTA price rally, as the bears seem to have capitulated at levels around $0.41.

The IOTA price has been trading within the 0.382 and 0.5 Fibonacci levels since the beginning of the year, which showcases the growing strength of the bulls. Moreover, the volume has surged from the levels it traded during the 2021 bull run, indicating a rise in trader interest in the token.

The bulls are attempting to push the prices above $0.37, which has acted as a major resistance since November 2023. Hence, as long as the IOTA price sustains above the trend line, there’s a possibility of a bullish continuation to $0.5.

Finally, AIOZ Network (AIOZ) price dropped by over 7% in the past 24 hours, continuing its consolidation within a descending triangle on the daily chart. The token price slipped below the support zone, indicating a bearish breakout from the pattern.

However, the volume also dropped significantly during this move, which might invalidate the breakout from the bearish pattern. In such a case, the AIOZ price could still be up for a bullish breakout from the triangle.

The RSI is attempting to validate a bullish divergence, while the MACD is on the verge of a bearish crossover as the selling pressure drops. This might drag the levels slightly below $0.7, which could further trigger a bullish rebound back above $1. Once the levels cross above $1, the bulls are expected to maintain the support and break above the resistance of the rising wedge. As a result, a corrective move back to $1 is expected, which could further open up the path towards unexplored highs beyond $2.