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Everipedia IQ Breakout Analysis – Parabolic Breakout on IQ with +74% Gains in a Single Day0
Everipedia IQ is trading in uptrend here like many other altcoins. The Cryptocurrency IQ just went up +74% in a single day by breaking a Bullish rectangle pattern with strong buying volume and surges over +80% in a week.
What is IQ?
Everipedia+PredIQt is a decentralized knowledge base and DeFi platform that includes a prediction market, money market, and synthetic asset system. The IQ token powers all applications and is used for the governance of the system.
IQ Quick Stats
| SYMBOL: | IQ |
| Global rank: | 185 |
| Market cap: | $41,660,179AUD |
| Current price: | $0.0056 AUD |
| All time high price: | $0.1254 AUD |
| 1 day: | +74.35% |
| 7 day: | +80.94% |
| 1 year: | +114.43% |
IQ Price Analysis
At the time of writing, IQ is ranked 185th cryptocurrency globally and the current price is $0.0056 AUD. This is a +80.94% increase since 24th December 2020 (7 days ago) as shown in the chart below.
If we see the above 4-hour candle chart, IQ did a strong breakout from the bullish rectangle pattern while trading sideways from the last few days & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price recently and Altcoins are also rising in a bullish trend, IQ looks well-positioned to hit the next high price levels.
“Bullish rectangles are continuation patterns that occur when a price pauses temporarily during an uptrend – they offer you a buying opportunity. … you place your profit target the same distance above the rectangle’s upper resistance level as the distance between the rectangle’s two parallel lines.”
What do the technical indicators say?
The Everipedia IQ TradingView indicators (on the 1 day) mainly indicate IQ as a buy, except the Oscillators which indicate IQ as a neutral.
So Why did IQ Breakout?
The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying IQ for the next Altcoins rally & it could also be contributed to some of the recent news of Everipedia teaming up with Associated Press.
Recent IQ News & Events:
- 19 June 2020 – Hotbit Listing
- 16 July 2020 – Reddit AMA
- 04 August 2020 – Blockchain Heroes Live
Where to Buy or Trade IQ?
IQ has the highest liquidity on Binance Exchange so that would help for trading IQ/BTC or IQ/USDT pairs. However, you can also buy IQ from different exchanges listed on Coinmarketcap.
Author
Malik Junaid
Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.
