IOTA Ranging

IOTA too has edged downward but maintained the range between $1.84 and $1.92. It is currently finding support at the central moving average of the KRI, at $1.89. IOTA is definitely lagging with regard to the strong momentum other altcoins have seen recently. It could really use a burst of momentum to confirm entry into wave 3 of the impulse of the Elliott Wave. Other levels of support include $1.84, $1.78, then $1.62, and finally we have $1.45, a Fibonacci level. We have $1.95 offering resistance from above. The psychological $2 level is the most important level to the upside. We must break it before we hit $2.20, after which, there is a relative vacuum zone until $2.25.

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