IOTX/USDT Show a bounce from the support, Indicating reversal!

3 Nis

💎 Paradisers, #IOTX has recently experienced significant market dynamics, exhibiting a bounce from the support area.

💎 A breakout from the current pattern could probability signal a bullish reversal, propelling the price upward toward the strong resistance area.

💎 However, if #IOTX fails to breach the resistance trendline and remains in consolidation around the support area, this could indicate weakness in the bullish momentum. In such a scenario, there's a possibility that #IOTX might break below the support level and continue its downward trajectory toward the lower support around $0.048.

💎 In the event of a breakdown, it's crucial for #IOTX to bounce decisively from the $0.048 support level, as it represents a critical area for maintaining bullish momentum. Failure to bounce and reclaim the price above the $0.07 support area could result in further downward movement.