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Iota forecast – 20% price increase in sight!

 


Iota price broke the $0.76 support during the last breakout. This has also been repeatedly confirmed as resistance, however the price has recaptured this support a few days ago which is bullish. As a result, we expect prices to rise in the near future. The volume from the current daily candle (03/24/2022) is showing high volume, so we now expect a confirmed break of the resistance. The Iota price could retest the regained support of $0.76 in the near future, but a bearish price development seems rather unlikely.

If the Iota price holds and defends the $0.76 support, which we expect, we would expect a move up to the $1 level. This psychological level has served as resistance many times after the price hit the $0.76 support. Based on this, we anticipate that the price could rally over 20% soon to test this resistance. After that we expect a correction. This correction could serve to allow iota price to breathe to break the resistance or allow the price to continue the sideways phase between $0.76 and $1.

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