Will IOUSDT Turn Bullish or Head for a Deeper Drop?

13 nov

Yello, Paradisers! Is #IOUSDT on the verge of a breakout, or are we looking at another test of support? A critical decision point is fast approaching for this asset, and here's why it matters for traders.

💎Currently, #OUSDT is battling a descending resistance trendline. Right now, price is nearing a critical demand zone between $2.145 and $1.93—a key area that aligns with the 0.618 Fibonacci retracement level. If IOUSDT respects this demand zone and we see bullish candle rejections in this range, it could be the signal of a bullish continuation toward our next major resistance area.

💎On the flip side, there's a scenario to be cautious about. If IOUSDT fails to rebound from this demand zone and breaks down through this level, it could signal a false breakout. In this case, the highest probability would shift toward a downward movement, targeting the major support range between $1.50 and $1.31.

💎For IOUSDT to maintain a bullish outlook, it needs to reclaim and hold this demand zone. However, if price breaks below the major support and we see a daily close beneath this level, it would confirm a bearish trend, potentially setting the stage for further declines.

Stay disciplined and follow these key levels closely.

MyCryptoParadise
iFeel the success🌴