IOTA prices shot recently about 45 percent. While many other cryptocurrencies have lost value, the price has been able to rise steadily. The new feature of staking was probably the reason. However, the price had hit the +/- $ 1.45 and $ 1.56 resistance areas. Because of this, prices might rebound and correct to the support zone of $ 1.17 and $ 1.23. The price is now well on the way to completing the correction, but could there soon be a strong breakout towards $ 3? Let’s check it out in this IOTA price prediction.
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IOTA Price establishes a Symmetrical Triangle!
The IOTA price has formed a trend line since the bull run, which started at the end of March 2020. This trend line served as support two weeks ago. Even during the bull run, the course was able to use the trend line as support several times. However, since the price peaked at $ 2.6773 in April 2021, the price has formed a trend line. This trend line always serves as resistance and steers towards the trend line that serves as support.
Because of this, a symmetrical triangle was formed. This triangle could break out at any moment, or in January. Should we break the upper trend line, then we could quickly rise to $ 3.5. This is where the target of the triangle lies if the price breaks out bullish. Should price break the support trendline then we would expect prices around $ 0.50. There is the next major support, where the course could catch.
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