- IDEX broke out of a prolonged accumulation zone between $0.017 and $0.027 in late July.
- The asset surged past $0.030 but is now trading at $0.03284 after a 16.46% intraday decline.
- Trading volume reached $76.29 million, while price volatility remained high between $0.031 and $0.038 during the session.
IDEX is experiencing notable intraday volatility after a sharp decline from earlier highs, currently trading at $0.03284. This movement follows a recent breakout from a multi-month accumulation range, shifting the asset into a new structural phase.
Intraday Pressure Pushes IDEX to $0.03284
As of the latest update, IDEX trades at $0.03284, showing a 16.46% intraday decline. The price opened near $0.03811 and has trended downward throughout the session. Early gains were erased quickly, followed by continued selling pressure across multiple intervals. The intraday chart shows several sharp pullbacks with minor bounces, none of which sustained momentum.
Trading volume reached $76.29 million, marking a 61.3% drop compared to the previous day. The market cap currently stands at $31.6 million, reflecting the same 16.46% drop as the price. Volatility remains high with wide fluctuations between $0.031 and $0.038 throughout the session.
IDEX Breaks Out of Multi-Month Range, Targets Higher Levels Following Sharp Price Move
IDEX has ended a prolonged period of sideways trading, moving decisively above its multi-month accumulation range. Between mid-April and late July, the asset stayed locked between $0.017 and $0.027. During this time, price action showed low volatility with repeated rejections near the upper boundary of the zone. The market did not break that structure until the final days of July.
The breakout began with a clean vertical price move, pushing IDEX past $0.030 for the first time in months. The structure shifted rapidly, with the breakout candle marking the first decisive move since the earlier compression. There was no visible pullback toward the breakout point, and short-term resistance levels were passed quickly. The price currently sits near $0.03178, holding firmly above the old range.
Accumulation Range Confirmed as Base
The accumulation zone acted as a base, with price holding tightly for over three months. From April to July, the range showed limited direction, and most movement remained within $0.017 to $0.027. The sharp upward move now places the asset in a different phase of market structure. The breakout comes after a lengthy downtrend from late 2023 through early April 2024.
The current chart features a projected target between $0.050 and $0.055. This region aligns with price activity seen in late 2023. No reversal has been recorded since the breakout, and buyers have kept the price above former resistance. The absence of a pullback confirms the strength of the move. Volume data was not provided, so the price structure remains the key reference. Future movement may depend on whether IDEX holds above $0.027 in the coming sessions.
