$IOTA IOTA has recently encountered resistance and is now testing its support zone. This presents a potential opportunity for traders to consider opening a long position, especially with a tight stop loss to manage risk effectively. Historically, when assets test support, there is a chance of a rebound, which could lead to upward movement toward the resistance level.
Traders should keep an eye on the support area, which ranges from $0.113 to $0.117. If IOTA manages to hold above this zone, it could signal a potential bounce back, making the resistance area, located between $0.125 and $0.127, a target for traders. Monitoring price action closely around these levels will be crucial in determining the next steps. As always, it’s important to approach trading with caution and be prepared for market volatility.
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