IOTEX CRITICAL AREA!
In my previous post, I shared that a cup and handle were forming. However, it failed to test the resistance at 80 sats.
Nevertheless, if you look at my previous and today's analysis, it is a good thing that IOTEX is still above the trendline.
Further, the RSI shows that it is now in an upward trend.
Furthermore, IOTEX formed a higher low from its lows.
Now, if IOTEX price holds above the trendline. It is probable that it will test again the 1st resistance at 62 sats. If it breaks that 1st resistance it will now retest the 2nd resistance line at 80 sats.
However, if IOTEX fails to hold above the trendline, it is probable to test again the previous low at 42 sats.
After that, it is possible to have a breakdown in the major support at 42 sats.
Just don't forget to set your stop-loss to minimize the risk.
HIt like and follow if you learn something!
Happy Trading!
Please do your own charting and research.
Nevertheless, if you look at my previous and today's analysis, it is a good thing that IOTEX is still above the trendline.
Further, the RSI shows that it is now in an upward trend.
Furthermore, IOTEX formed a higher low from its lows.
Now, if IOTEX price holds above the trendline. It is probable that it will test again the 1st resistance at 62 sats. If it breaks that 1st resistance it will now retest the 2nd resistance line at 80 sats.
However, if IOTEX fails to hold above the trendline, it is probable to test again the previous low at 42 sats.
After that, it is possible to have a breakdown in the major support at 42 sats.
Just don't forget to set your stop-loss to minimize the risk.
HIt like and follow if you learn something!
Happy Trading!
Please do your own charting and research.
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