ðĨ IOTX Huge Fall Incoming: 2-Year Channel
IOTX has been one of the big winners of November, where it gained around 250% at some point.
However, IOTX has seen a strong rejection from the top of the bullish channel. I doubt that IOTX will touch the lower bound of the channel in the near future (unless we get a massive BTC sell-off), but I doubt that IOTX will continue to make new highs in the near future.
We could very well see a 50% drop in the coming weeks/months. See my analysis of XTZ below for a comparable pattern.
Happy trading!
However, IOTX has seen a strong rejection from the top of the bullish channel. I doubt that IOTX will touch the lower bound of the channel in the near future (unless we get a massive BTC sell-off), but I doubt that IOTX will continue to make new highs in the near future.
We could very well see a 50% drop in the coming weeks/months. See my analysis of XTZ below for a comparable pattern.
Happy trading!
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