Analyzing the Breakout: #IOTXUSDT Gains Momentum Above Trendline

💎#IOTXUSDT has made significant moves in recent price action, breaking above the downtrend trendline and the recent high. And this breakout might have signaled a growing bullish momentum.

💎Prior to the breakout, the price successfully rejected the uptrend trendline, demonstrating the strength of the bulls in defending the support level. This validates the short-term uptrend, with a potential price increase towards the 61.8% Fibonacci retracement level.

💎Although the upside target is only 5% away, a daily break and close above the Fibonacci resistance could extend the upward push even further.

💎However, if #IOTXUSDT breaks below the support, it may present selling opportunities, as the probability of a short-term price drop would increase. We will keep you updated on the situation.

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Here is our update for #IOTUSDT