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- At the time of writing, 53.20% of top traders held short positions while 46.80% held long positions
- IOTA ($0.09) could soar by 50% to reach the $0.70-level if it closes a daily candle $0.45
IOTA is making waves in the cryptocurrency realm again owing to its recent price performances. In fact, since the beginning of November 2024, the token has soared by more than 250%, alongside other major cryptocurrencies across the market.
With significant upside momentum on its side, IOTA broke out of its prolonged descending trendline. By doing so, it gained significant attention from both whales and traders.
IOTA technical analysis and key levels
AMBCrypto’s technical analysis revealed that following the breakout of the trendline, IOTA appeared to to be struggling near the strong resistance level at $0.36. In addition to the horizontal resistance level, the 200 Exponential Moving Average (EMA) was also acting as a resistance at press time.
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