Hey Square fam! š Letās unpack the latest weekly chart of IOTA and explore whether this protocol designed for IoT is gearing up for a reboundāor ready for a deeper dip.
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š§© Current Price & Market Context
Live Price: Around $0.1716āÆUSDT, down ~2ā3% over the past 24 hours and ~2.6% for the week .
Market Cap & Volume: Roughly $658āÆM USD, with 24h volume near $21ā30āÆM .
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š Technical Landscape
Summary Outlook: Weekly technicals are leaning sell/neutralāmoving averages and oscillators mostly negative, with only one ābuyā signal .
Indicator Signal: IOTA remains below the 50-day SMA, facing sustained downward pressure in the medium term .
Chart Patterns: Some analysts highlight support around ~$0.163ā$0.170, and potential resistance at ~$0.196, then higher at ~$0.237ā$0.265 .
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š Upgrades & Fundamentals
Rebased Network Launch: The new mainnet āRebasedā went live on May 5, potentially fueling a rally of ~90% from April lows .
Long-Term Structure: Weekly shows key support at $0.145, with resistance pressing on a long-term downtrend line .
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šÆ Key Levels to Watch
**š¦ Support Zone**: $0.163ā$0.170 ā closely watched for holding or breakdown.
**š„ Short-Term Resistance**: $0.196 ā breakout may spark momentum.
**ā« Higher Targets**: Next hurdles: $0.237 and $0.265āif current levels hold and network fundamentals strengthen .
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š Strategy & Outlook
š¢ Bullish Scenario
If weekly closes above ~$0.172 and holds support, a slow climb toward $0.196ā$0.237 is on the table.
Successful retest of the new mainnet breakout level strengthens this thesis.
š“ Bearish Scenario
A drop and close below $0.163 may target support near $0.145.
Weakness below 50āday SMA keeps pressure on weekly timeframes .
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š Quick Weekly Recap
Theme Status
Price Action Trading slightly below weekly neutral š
Support Hold Watch $0.163ā0.170 closely
Resistance Line $0.196ā$0.237 critical for bullish pivot
Network Upgrade Rebased mainnet live since May 5
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š TL;DR
IOTA is at an inflection zoneāstability in the $0.163ā$0.170 range could confirm bullish breakout potential, while a drop below invites deeper corrections. Keep an eye on weekly candles, support tests, and reaction to mainnet tech momentum!
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Drop your thoughts, fam! Will IOTA hold the line and rally higherāor slip toward the next support level? š¬š
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Disclaimer: Not financial advice. Always DYOR, trade responsibly, and manage your risk smartly!
