I don't like what I see here. IOTA seems to have formed a big descending triangle indicating a further downside. It is currently trading slightly below the lower edge of the DT. If the price cannot break above the lower edge, I'm pretty much conviced that we see IOTA dip into the support area around $0.4-0.45
What is slightly encouraging though is that the last time IOTA traded at almost similar levels, it went on a +260 % rally afterwards. However, due to macro factors and the decrease in voluem, I tend to be on the bearish side for now.
Let's see how this plays out.
Thanks for your support.
Have a good one.
What is slightly encouraging though is that the last time IOTA traded at almost similar levels, it went on a +260 % rally afterwards. However, due to macro factors and the decrease in voluem, I tend to be on the bearish side for now.
Let's see how this plays out.
Thanks for your support.
Have a good one.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.