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During the previous session, the IOTXUSDT market recorded a considerable upside correction off an important technical indicator. Today’s trading session has started with an extension of that move. Consequently, it appears that more profits may still be recorded in this market at this point.
Resistance: $0.08000, $0.1000, and $0.1200
Support: $0.06000, $0.04000, and $0.02000
IOTXUSDT Sets Sail Upwards
Price activity in the IoTeX daily market can be seen rising further upwards. The last price candle on the chart has appeared clearly above that of the previous session. Additionally, the mentioned price candle can be seen placing the market above all the Exponential Moving Average (EMA) curves.
The 20, 50, and 100-day EMA can now be seen interacting with each other below price activity in the market. At the same time, the Moving Average Convergence Divergence (MACD) curves can be seen crossing above the equilibrium level. It also appears that upside momentum is staying strong considering the appearance of the MACD bars that have appeared above the equilibrium level.
Bulls Are Marching On While Facing Headwinds in the IoTeX 4-Hour Market
The IOTXUSDT market has revealed that upside forces are still progressing upward even as they seem to be facing opposition from headwinds. The EMA lines can now be seen interacting more with each other below price action in this market. Consequently, they seem to have generated some upward thrust. At this point, the last price candle can be seen possessing a conspicuous upper shadow.
Technically, this shows that headwinds are acting in the ongoing session. The MACD lines can be seen trending upward without any form of deflection. The bars of the indicator can be seen appearing solid green above the equilibrium level. Traders may still utilize crypto signals with higher targets near the $0.06500 mark, but adequate precautions must be taken against unforeseen eventualities.
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