IOTX/USDT on the Edge Will the Triangle Break ?
IOTX/USDT Technical Analysis Symmetrical Triangle Breakdown in Sight
Key Insights
Symmetrical Triangle Pattern: Price has been consolidating within a symmetrical triangle, creating lower highs and higher lows, signaling a potential breakout.
Critical Support Zone: The price is currently testing the lower trendline at $0.0378.
Bearish Scenario: A breakdown below this trendline support will trigger a short opportunity, aligning with the bearish market sentiment.
Target Levels
Primary target: $0.0300
Final target: $0.0250
Monitor closely for a breakdown confirmation. A close below support with increased volume could validate a downward move. Managing stop-losses above $0.0450 upper triangle boundary is recommended to mitigate risk.
Key Insights
Symmetrical Triangle Pattern: Price has been consolidating within a symmetrical triangle, creating lower highs and higher lows, signaling a potential breakout.
Critical Support Zone: The price is currently testing the lower trendline at $0.0378.
Bearish Scenario: A breakdown below this trendline support will trigger a short opportunity, aligning with the bearish market sentiment.
Target Levels
Primary target: $0.0300
Final target: $0.0250
Monitor closely for a breakdown confirmation. A close below support with increased volume could validate a downward move. Managing stop-losses above $0.0450 upper triangle boundary is recommended to mitigate risk.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.