💎 IOTX has significantly captured market attention, recently showcasing a strong bounce from the demand area, which was previously a resistance zone. Adding to this bullish signal, IOTX also formed a 'three white soldiers' candle pattern, indicative of positive momentum.
💎 At present, IOTX is contending with a daily resistance area that has proven to be quite formidable; IOTX faced a tough rejection at this level just a few days ago. A successful breakthrough of this daily resistance could catalyze bullish momentum for IOTX, probability with our next target likely set in the bearish OB area.
💎 However, if IOTX faces rejection at this resistance level again and merely consolidates, there's a possibility it could retreat back to the demand area.
💎 In the demand zone, a robust response is crucial for IOTX. It needs to demonstrate either a strong bounce or maintain its level at this area. Failure to do so, particularly if IOTX breaks down below the demand level, could signal a reversal to a bearish trend. This would potentially lead IOTX to descend towards the next lower stop, which is the support area.