IOTEX - upside potential towards 0,3240

IOTEX - upside potential towards 0,3240

IOTEX - Starting as an open-source project in 2017, IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives
IOTEX is the native coin that governs the underlying blockchain protocol while being used as the gas for the blockchain protocol

IoTeX Supply

Circulating Supply = 9 540 779 324 IOTX
Total Supply = 9 626 124 332 IOTX
Max Supply = 10 000 000 000 IOTX

Context:

Since the introduction late 2019 beginning of 2020 the IOTEX Token is evolving in quiet healthy upside trend with 2 significant pull-back structure during the last past 12 months (Blue support)
The Elliot & Harmonic structure is complex with a lake of historical data. However we can already activate some projection considering the ascending consolidation pattern ended with 0,3240 as standard target.

Tactical View - 1 to 3 Weeks

The short-term bearish trend line has been surpassed and the RSI daily indicators is reintegrated the positive area above 50% providing clear bullish signal on the shorter run.

As long as 0,0790 remains a Tactical Key Support in a Daily Close a further rise towards 0,1850 in a first step before 0,3240

We add IOTEX at 0,1107 in the AKT Portfolio

Enjoy

Trade closed: stop reached:

Stoppêd out : 0,0790

Turn Neutral between 0,0960 & 0,719 level to by passed in order to reactivate a directional view

Comment:

Further downside risk validated towards Key Strategic support before any new bullish tentative