📈 Technical Analysis: IOTA ($IOTA )

Market Capitalization: $314.28M.

The IOTA chart is forming a well-established pattern: a strong impulse move, a correction, and the beginning of a continuation in the direction of the trend.

🟡 Price has already completed its reversal and is sitting at a good entry point.

How to trade❔

💬 We buy at the current price. Stop-loss is placed behind the nearest swing low. Profit target is set just below the resistance level above. The risk/reward ratio looks excellent.

💬 If price still pushes lower and breaks through support we consider a sell. Stop behind the nearest swing low below, profit target just above the next support level.

💬 The risk/reward is slightly less attractive than the long, but the trade is technically sound.

Conclusion:
Two scenarios, both viable. The market will show the direction our job is to be ready for either one.

📈 Open trade with $IOTA ‌🔗 Chat • X • JioCoinsX