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The IoTeX market delivered some nice performances early in yesterday’s trading session. However, headwinds caused some contraction of the price, and the market regressed, though not below important landmarks. Bulls are picking up from where their line of defense ended yesterday as price action prepares to sail higher today.
Key Price Levels:
Resistance: $0.08000, $0.1000, and $0.1200
Support: $0.06000, $0.04000, and $0.02000
IOTXUSDT Pops Through a Technical Level
Price action in the IoTeX market has kept on trying to break the psychological resistance at the $0.06000 mark. The market attempted this yesterday but failed. The price candle corresponding to today’s trading activity has just popped through the mentioned resistance level. Nevertheless, price action can be seen standing above the 20, 50, 100, and 200-day Exponential Moving Average (EMA) lines.
Likewise, the Stochastic Relative Strength Index (SRSI) can be seen maintaining a smooth upside path. The last price candle on this chart appears green with a large body, demonstrating that upside forces are dominating the session. From a technical point of view, the market may be poised for more gains.
Bulls in the IoTeX 4-Hour Market Cross the 0.06060 Threshold
Price action in the IOTX market has maintained a steady upward path. The current session has delivered another significant upside boost. Also, it should be noted that price activity is above the EMA lines. Additionally, an upside crossover can be seen on the SRSI indicator.
The crossover has occured above the 50 mark of the indicator. Consequently, this shows the upside correction may gain more momentum from here on out. As a result, the market may move further upwards above the psychological price level of $0.06000. Consequently, crypto signals aiming at the $0.06250 price level may be used in this market.
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