#IOTA Technical Analysis in Weekly Timeframe

8 JulHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:

IOTA is under a descending triangle pattern, and the CMP is at the supporting trendline of $0.1448. This support level is crucial for IOTA to hold. A breakdown and close below this level will likely continue the bearish pattern.

On a positive note, if IOTA sustains the current support level, we will likely see a rebound, testing to break the resistance trendline at around $0.26.

Key Observations:

~ Crucial Support: $0.14.
~ Resistance: $0.26.
~ Rebound Invalidation Point: Weekly breakdown and close below the current support level.

DYOR, NFA.

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