IOTXUSDT⚠️✅⚠️ Breakout Incoming, pay attention!💬 IoTeX (IOTX) looks like it is gearing up to break resistance. Let's analyze this bad boy of blockchain and Chainlink partnerships to see if the bulls can break on through or if the bears will end the glory here.
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Support:
S1: The first support level is the S1 orderblock. Anything more than a quick wick down to here breaks our current bullish structure of higher lows. So even though there is support here, it should be viewed cautiously.
S2: The S2 S/R flip is a logical place to find support. The momentum of the current move would be lost here, but that doesn't mean this support can't or won't hold.
S3: If needed there is also the S3 orderblock range. Anything below this changes our overall bullish outlook on IOTX.
Resistance:
R1: The R1 orderblock at the previous swing high is our first point of resistance. We'll be looking for this to act as support once broken.
R2: The R2 high from the initial move up back in May is the last point of resistance. What the bulls will want to see is a move up to R2, support found at R1, and then a push higher through the Multi-timeframe resistance noted below.
Daily Multi-Timeframe:
There is a major price pivot point that is currently acting as resistance. It is the potential to break this and for the USDT pair to make new highs that has us excited. Let's go bulls!
BTC 4h Multi-Timeframe:
You can see that the current daily USDT range is also significant on the 4h for the BTC pair. While there is a rather large range here to consider, this chart illustrates what we are looking for. We want to see an ABC move above this resistance, with a retest of it, before moving higher.
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Summary:
This play is all about breaking resistance with the current momentum, so a retest of lower ranges is pretty far outside the scope of what we are looking for. We want to see a run now, do you think we'll get it?
Resources:
cryptobriefing.com
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IOTXUSDT
IOTXUSDTIOTXUSDT, the trend has been increasing and currently above the uptrend line.
1. It might continue to increase until the resistance line at 0.006 then break it above with an open-close candle, it is time to buy some or more.
2. It might start to decrease and pull the uptrend line back with an open-close candle. It is time to sell or you can also wait until the trend goes down and breaks the support line below with an open-close candle to sell.
-EngineeringRobo's signals work well!
IOTX/BTC (Pullback at Key Moving Averages)IOTX/BTC
-cross ultimate indicator signal is Long priority last May 20
-the price pump over 180% and reached recent top resistance
-during pullback, it reacted on the MA dynamic support
-there is a local resist line at 65s
-if buyers come in and breaks this line
-we might experience another leg up continuation
The Internet of Face Melting Mainnet Gains 🤑 | IoTeX ($IOTX)🤯 If you haven't heard of IoTex (IOTX), then you haven't been watching Binance charts. IOTX has been an absolute beast! That is likely in no small part to a mainnet launch coming up on June 1st. The reality is this Mainnet, launch titled "Machina," could be longterm bullish or just short term for IoTex, but for us this doesn't matter. Our goal is to map out some key levels of interest for anyone looking to go long into the mainnet launch.
Two key levels to watch for support are S1 and S2. S1 is a great place to find support if we are going to retest or even breach the previous high before June 1st. At S2 things start favoring the bears, as S2 is a perfect setup for a dead cat. S3 is the last level of support we are watching short term, but this is where bears need to consider a potential short.
Meanwhile to the upside, R1 is the main resistance level to watch, although the current range could also become a notable resistance if we travel lower.
In general here, as exciting as the new tech is, traders should keep in mind what makes this chart attractive is the momentum and current clear uptrend. If the momentum and uptrend are lost, we are likely not to be looking to chart this one again for a while.
(GG Bears)
Resources: twitter.com
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