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$IOTA
IOTAUSDT is giving a strong breakout signal after a prolonged accumulation period around the 0.05–0.060 area. Two consecutive bullish candles with a large candle body accompanied by a spike in trading volume shows that the cash flow is returning to the market.
The short-term MA lines (MA5, MA10, MA20) have simultaneously turned up and the price is now above all important averages, confirming the short-term uptrend. In particular, the price has surpassed MA120 at 0.062 and turned this area into a new support.
Purchase scenario:
● It is possible to buy when the price adjusts to the 0.067–0.069 area.
● Buying and chasing is only suitable when the price continues to hold above 0.070 with high liquidity.
Profit-taking target:
● TP1: 0.075
● TP2: 0.080
● TP3: 0.088–0.090
Cut loss:
● Below the area of 0.064
Note, after an increase of nearly 30% from the bottom of 0.053, the possibility of short-term shaking is quite high. Prioritize waiting for support adjustment rhythms to have a better profit/risk ratio instead of FOMO in the current price area.
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