1W chart showing bullish MACD divergence and recent breakout of descending wedge. Price action is currently testing July 2023 local highs near 0.0248. Currently oversold on daily RSI, but if uptrend continues then 0.028 a possible next target. Would like to see volume pick up though. I think overall looking bullish going into the end of 2023 and into 2024 and will be even more so if it breaks above 0.029.
Will follow. Good luck traders!
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Well, price action made an attempt at breakout but rejected at top trendline of channel at 0.029, which just exceeded my 0.028 target. Will continue to follow.
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BOOM! out it goes... broke out with nice volume....
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Ok. Correction time...down to likely mid to low 0.02 area. Would not rule out sub 0.02 in the near future depending on strength of sell-off with local supports around 0.028, 0.024, 0.018 and 0.013....will follow.
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wow... THIS IS A LITTLE UNEXPECTED BUT WELCOME PUMP...this coin has some big price action swings lately...anybody got news why???
I still have a long position open on this coin. What would be your opinion about this coin progressing more to the upside in the week to come, or downside
Ambassadorj
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@samuelsmith04096, Given this coin is oversold on the 1W RSI, 1D MACD looking liking like correction to the downside, and decreased to lower volume after this recent big spike in price action on the 1D chart....that all that to me suggests more downside or at least sideways price action in the near term and very little evidence to support another spike near or above 0.05 in the week ahead. Looking many months ahead though, like the rest of the crypto market, I think we are in an accumulation phase and many coins are testing break outs to local highs that we haven't seen in over 1 year. I am accumulating IOTX for a long position and anticipating crypto bull run to ATHs in later half of 2024 or early 2025 but the SEC and BTC ETF is the wild card among others that may make or break this prediction. I have stepped away from the large volume of intraday or swing trading I use to do historically and have turned to buying the local dips and would like to see IOTX drop below 0.03 and into mid to low 0.02 or lower (maybe worst case is bounce at 0.018??) to help maximize my long buys at this time. Good luck!
Ambassadorj
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@samuelsmith04096, Well I think you got your answer really quick!!! Holy smokes.....