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Iota course forecast - course is on the verge of an explosive outbreak!

 


In our last Iota price forecast , we wrote that the price could break out soon. The price has formed a symmetrical triangle in the weekly chart, which is why we have assumed an outbreak, or still assume. In the last week, the crypto market has lost a lot of its value, which is why the Iota price has also fallen sharply. But how could the course continue? Are we still in the triangle and can we still talk of a bullish breakout? We'll tell you today about the Iota course!

The Iota price could fall due to the sell-off in the last week to the lower trend line of the triangle, which is why there is now a good buying opportunity. We are currently receiving strong support. Next, we expect an upswing to the upper trendline or possibly a breakout of the triangle. Should we move higher from here, we expect a bullish breakout. However, if this week turns out to be bearish again, the price could break out of the triangle and we could see prices of around $ 0.5 in the next few months.

The Iota course is not only on the trend line, which serves as support, but also on a horizontal support area. This is between $ 1 and $ 1.03. As long as this area holds, we do not expect a bearish breakout. Instead, our short-term assumption is that the price could hit $ 1.17 next. That is where the next major resistance lies.

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