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Iota forecast – $10 per iota realistic? Chart image shows bullish pattern!

 


Iota price has historically formed a resistance trend line as well as a support trend line. These two trend lines will meet in early 2023, which is why the price would have to decide in one direction before the end of this year. Since the iota price rose prior to the formation of the triangle, which unfortunately cannot be seen in this chart, there is a higher probability that the iota price will break out bullishly. This probability is around 60%. Because the triangle was formed, there could be a continuation of the trend in the future, but also a continuation of the last correction and thus a clear bear market.

If the iota price breaks bullishly out of the symmetrical triangle, the price could rise to $36 according to the chart pattern. However, we feel that this goal is a bit too high. Instead, we anticipate that if the price breaks out in a bullish manner, it will only rally to the $10 level. The $10 mark would serve as a psychological level, which is why we expect a decline here. After the price reached the $10 level, the price might face another major correction. The correction target cannot be determined to date. Should the price reach the $10 mark, we will publish a new longer-term Iota forecast. In general, however, one should not assume that the course will break the $10 markwill reach. This is just an optimal course.

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