๐ IOTA has notably captured the market's attention. Recently, it broke out of the supply area, marked by a robust daily green candle accompanied by significant volume. Despite this, IOTA faced a strong rejection at a major supply zone and is now in a retesting phase at the demand level, which previously acted as a supply area.
๐ This retesting phase will be considered successful if IOTA manages a bounce from the demand area and resumes its upward trajectory. If this occurs, there's a good chance IOTA probability could reach our target within the major supply area.
๐ However, if IOTA fails to rebound from the demand zone and instead breaks below it, the next key level to watch is the support area around $0.2050.
๐ At this support level, itโs crucial for IOTA to demonstrate a significant recovery to attempt reclaiming the demand area and continue its upward journey. If IOTA fails to show a positive response in the support area, it might also break down further, potentially reverting to a bearish trend and heading towards the key support area.
๐ This retesting phase will be considered successful if IOTA manages a bounce from the demand area and resumes its upward trajectory. If this occurs, there's a good chance IOTA probability could reach our target within the major supply area.
๐ However, if IOTA fails to rebound from the demand zone and instead breaks below it, the next key level to watch is the support area around $0.2050.
๐ At this support level, itโs crucial for IOTA to demonstrate a significant recovery to attempt reclaiming the demand area and continue its upward journey. If IOTA fails to show a positive response in the support area, it might also break down further, potentially reverting to a bearish trend and heading towards the key support area.
Trade closed: target reached:
Boom! #IOTA is doing just what we said. Up 45.50% and looking good!
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