People are very hopeful on IOTA, but it could struggle to break out here. Just too much bullishness in the community.
The hourly candles are showing a lot of selling at resistance. In TA it's always safer to wait for a confirmed breakout or a backtest.
Further, the ETHUSD chart looks great, like Eth is about to run again. This would put pressure on IOTETH.
One more shake out to test support at .0032 Eth would have me buying. OR, a break out and back test would have me considering.
The hourly candles are showing a lot of selling at resistance. In TA it's always safer to wait for a confirmed breakout or a backtest.
Further, the ETHUSD chart looks great, like Eth is about to run again. This would put pressure on IOTETH.
One more shake out to test support at .0032 Eth would have me buying. OR, a break out and back test would have me considering.
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Doesn't look like it... look out below!
