IOTA continues to disappoint, still struggling with the central moving average of the KRI
at $1.96. It currently sits at $1.88, however, which is forming the upper bound of a bull wedge
in this coin has consolidated substantially, as evidenced by the width of the upper and lower bound of the KRI
, suggesting that we might expect a breakout soon. The corrective phase of the Elliott Wave
has lasted since December, supporting the case for renewed momentum. If we continue to face resistance from above, we'll see support from levels at $1.84, $1.78, and finally from $1.68, the lower bound of a congestion zone.
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