Retest in Play | Eyes on Higher Levels
🕒 Timeframe: 1D (Daily Chart)
💹 Pair: IOTX/USDT
🔍 Structure: Descending Channel Breakout
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✅ Current Setup:
#IOTX has broken out of the descending channel and cleared the daily MA50 — two strong technical signals showing a potential trend reversal.
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🧪 What to Watch:
Price is now approaching a possible retest zone. A successful retest of the breakout area would offer an ideal entry point for bullish continuation.
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🎯 Bullish Targets:
🎯 $0.02143
🎯 $0.02511
🎯 $0.02808
🎯 $0.03105
These levels align with prior structure highs and fib extensions, offering multiple profit-taking zones for swing traders.
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⚠️ Risk Management Tip:
Use a tight stop-loss below the breakout zone. If the retest fails, the move could invalidate — so risk discipline is key.
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🔍 Why It Matters:
This breakout follows:
✅ Channel breakout confirmation
✅ MA50 reclaim
✅ Momentum building on volume and structure
It’s an ideal spot for trend traders watching for a fresh leg up — but confirmation on the retest is crucial before going in heavy.
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