MACD Divergence and Support Reclamation on #IOTXUSDT

27 mag 2023

The recent price action in #IOTXUSDT has shown some interesting developments. After briefly entering a bearish zone, we are now witnessing a potential shift in momentum. Here's what we're observing:

💎Bullish Divergence: The MACD indicator is displaying a bullish divergence, indicating a potential reversal in the price trend.

💎Support Reclaimed: Price has managed to climb back above the support level, which is a positive sign for buyers.

💎Fibonacci Retracement: The 50% Fibonacci retracement level has proven to be a significant area of support, with a clean bounce occurring for the second time.

💎Higher Highs and Higher Lows: On the lower timeframes, we are starting to see the formation of higher highs (HH) and higher lows (HL), suggesting a short-term growth potential.

Considering these factors, as long as #IoTeX remains above the Fibonacci support, there is a high probability of a fast 10% rise. It's important to note that price spikes below the Fibonacci levels may occur, but only a new lower low would be a serious warning sign for the buyers.

31 mag 2023

Trade chiuso: obiettivo raggiunto

💎 Take a moment to appreciate the remarkable and rapid uptrend exhibited by #IOTX following our previous analysis. Today, the price hit and bounced right off our Fibonacci resistance, yielding a 10% profit. So, what's next for #IoTeX?

💎 Until the price breaks above the recent resistance, we can expect some consolidation. However, if we witness a rapid uptrend in the next day or two, followed by a breakout at the 61.8% Fib level, the price of #IOTXUSDT could skyrocket.

💎 As always, we're keeping a close eye on the market for you, Paradisers. Stay tuned and trade safe! 🌴