Based on the provided chart of $IOST /USDT on the 1-hour timeframe:

Analysis and Strategy

1. The price is showing an uptrend after a recovery from the 0.006500 support zone, reaching a high of 0.008500 before consolidating near 0.007962.

2. A bullish pattern is forming as the price consistently makes higher lows and higher highs. However, it faces resistance near 0.008000.

Entry for Long Position

Entry Point: Enter around 0.007950 after confirmation of a breakout above 0.008000.

Target: First target at 0.008300; second target at 0.008500.

Stop Loss: Place a stop loss at 0.007700 to limit downside risk.

Entry for Short Position

Entry Point: Short near 0.008000 if it rejects the resistance and fails to break out.

Target: First target at 0.007600; second target at 0.007300.

Stop Loss: Place a stop loss at 0.008100 above resistance.

Conclusion

Currently, the market suggests a potential breakout scenario to the upside, favoring long positions. Monitor for volume and candlestick confirmation before entering any trade. Risk management is key to adapting to market fluctuations.

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