IOTA Trending Up

IOTA has broken out, but retraced from new relative highs at $2.20, finding support from the central moving average of the KRI at $1.95, which we've highlighted here many times. It is currently looking to test relative highs again. Like other coins, IOTA's retracement was normal and healthy. In the longer term, we still have somewhat of a bull wedge pattern, so some renewal of momentum can be expected. We definitely appear to have concluded the arduous corrective phase, and are entering the next impulse. Although we definitely have seen support from $2 and $1.95, we must conquer relative highs at $2.20, before we cross a relative vacuum zone until $2.25. Further levels from below $1.84, $1.78, and finally from $1.68, the lower bound of a congestion zone.

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