IOTA is currently trading at a critical long term support zone after a prolonged decline within a descending structure. Price is holding near the lower boundary of the channel, an area that has previously acted as strong demand.
The recent selloff appears to be slowing down, and price is attempting to stabilize near this support region. If buyers continue to defend this level, a relief move toward the mid range of the structure is possible, followed by a potential retest of the upper descending resistance.
However, failure to hold this zone could open the door for a deeper downside move before any meaningful recovery. This area is important for trend continuation or reversal, making it a key region to monitor closely.
This setup favors patience, as confirmation is needed before expecting a sustained move.
The recent selloff appears to be slowing down, and price is attempting to stabilize near this support region. If buyers continue to defend this level, a relief move toward the mid range of the structure is possible, followed by a potential retest of the upper descending resistance.
However, failure to hold this zone could open the door for a deeper downside move before any meaningful recovery. This area is important for trend continuation or reversal, making it a key region to monitor closely.
This setup favors patience, as confirmation is needed before expecting a sustained move.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.