#IOTA Technical Analysis in Weekly Timeframe

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

IOTA is under a descending triangle pattern, and the CMP is at the supporting trendline of $0.1448. This support level is crucial for IOTA to hold. A breakdown and close below this level will likely continue the bearish pattern.

On a positive note, if IOTA sustains the current support level, we will likely see a rebound, testing to break the resistance trendline at around $0.26.

Key Observations:

~ Crucial Support: $0.14.
~ Resistance: $0.26.
~ Rebound Invalidation Point: Weekly breakdown and close below the current support level.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE