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Iota Forecast – Is Iota Better Than Bitcoin?

 


As said, nothing earth-shattering has changed in the USD pair. Iota price made a new low using today's weekly candle, which is bearish at first, however, the price is still above the +/- $0.25 support. However, one should be cautious as we think it is a matter of time before the $0.25 support breaks. Should that happen, we see prices around $0.13 as realistic.

The Iota course has been able to reach support and a psychological level in the past few weeks. This/this is located at 0.00001BTC. The current weekly candle will most likely close bullish and be a so-called “Bullish Engulfing Candle”. This candlestick pattern mostly indicates a trend reversal, which is why we assume that the iota price will continue to outperform the Bitcoin price.

The next resistance is around 0.00002BTC, which is why another +/- 50% rise is possible. If the current weekly candle closes something like this, we would take the future rise as confirmed. There could be small losses early in the week as the daily chart is a bit overheated. However, in the medium term, things are looking more bullish than bearish.

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