First, IOTEX had broken the resistance trendline. This is a good sign because the upward trend will soon start.
Second, the Cup and Handle pattern is now forming. This pattern consists of a drop in the price and a rise back up to the original value, followed by a smaller drop and a rise past the previous peak.
Based on the chart, there was a dropped in the price. The said increase back up to the original value is on the move retesting the 75-82 sats level.
If the price hits the 75-82 sats. It will be followed by a smaller drop and next is the rise past the previous peak!
If it breaks the first resistance line, it will now test the major resistance at 145 sats.
However, if the rise past the previous peak didn't happen it will retest the previous low.
Happy Trading!
Please do your own charting and research.
Second, the Cup and Handle pattern is now forming. This pattern consists of a drop in the price and a rise back up to the original value, followed by a smaller drop and a rise past the previous peak.
Based on the chart, there was a dropped in the price. The said increase back up to the original value is on the move retesting the 75-82 sats level.
If the price hits the 75-82 sats. It will be followed by a smaller drop and next is the rise past the previous peak!
If it breaks the first resistance line, it will now test the major resistance at 145 sats.
However, if the rise past the previous peak didn't happen it will retest the previous low.
Happy Trading!
Please do your own charting and research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.