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Iota Forecast – Attention! Course Confirms Future Rise!

 


Descending triangle on IOTA/USDT chart

The Iota course has been able to form a descending triangle in the last two weeks. These triangles are often used for falling prices since they are continuation patterns. Now, the price has broken the triangle trendline, so we consider the price to be a bullish breakout. Since Bitcoin had already broken out bullishly a few days before, we assume that the Iota price will follow suit. Altcoins, such as Iota, could therefore outperform the Bitcoin price in the next few days.

Since the Iota course was not spared from the crypto crash recently, the next support is quite far away. This is around $0.5. We anticipate the price to rally to the next resistance. Before that, the price might not feel any selling pressures and therefore a decline before reaching the $0.5 resistance is rather unlikely. This would mean that the price will increase by about 45% in the future, in the next few weeks.

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