As IOTA reached its highest historical price there is high probability to see price reversal.
SMMA 8 crossed SMMA 24 and want cross SMMA 48.
I see two options:
1) If price will break strong support level and then break uptrend line it can fall down into 0.5 - 0.618 fib zone or even lower where it'll reach next strong support zone near 0.786
2) Another case can be when price will do consolidation near strong support (0.236) and then break uptrend line . In this case i think reversal will not be so strong and IOTA will follow its long term uptrend
SMMA 8 crossed SMMA 24 and want cross SMMA 48.
I see two options:
1) If price will break strong support level and then break uptrend line it can fall down into 0.5 - 0.618 fib zone or even lower where it'll reach next strong support zone near 0.786
2) Another case can be when price will do consolidation near strong support (0.236) and then break uptrend line . In this case i think reversal will not be so strong and IOTA will follow its long term uptrend
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.