IOTA is currently ranging with support from the central moving average of the KRI. It sits in the dead center of this indicator and has a long way to go, up or down. The upper and lower bounds are of the KRI are beginning to contract sharply, which indicates a breakout soon. On the downside, it will find support at the lower bound of the KRI at $3.02, though it will likely first bounce off a Fibonacci level at $3.25, which is a nice psychological level as well. Above, we have a Fibonacci level at $4.36, the upper bound of the KRI at $4.62, the psychologically significant $5 mark, and a Fibonacci Extension level at $5.06.
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