IOTX Weekly Chart Analysis

10 Tem

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

#IOTX is under a symmetrical triangle pattern, breaking down below the 50 EMA. The price is in a downtrend, suggesting a further 35% to 40% drop from the current market price (CMP).

If IOTX breaks above the resistance trendline, whether from the CMP level or after reaching the mentioned support, it will create a bullish sentiment and a 5x to 10x rally can be expected.

The lower support level at $0.013 will still hold the fall if we see a breakdown below the triangle.

- CMP: $0.03712
- Primary Support: $0.024
- Lower Support: $0.013
- Primary Resistance: $0.0628
- Long-term Target: $0.263

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE