IOTA Finds Support

IOTA too has remained range bound, currently testing the upper level of this range near $2. Like the other cryptos, IOTA could really use a burst of momentum to confirm entry into wave 3 of the impulse of the Elliott Wave . The central moving average of the KRI continues to provide support around $1.92. Other levels of support include $1.95, $1.78, then $1.60, and finally we have $1.45, a Fibonacci level. 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.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!
Mar 12
Comment: Forgive the inconvenience! Wrong text!

IOTA is another weaker coin that has seen some uplifting momentum recently. As predicted here, it did test the lower $1.20's before rejecting the lower bound of the KRI which is confirmed by a green triangle on Sunday's candle. IOTA currently seems to be facing resistance at a nested Fibonacci level at $1.435, which is extremely significant. This corresponds to the lower anchor of the nested Fibonacci levels. If sentiment continues in the bullish direction, we must punch through $1.435 and $1.44. Then there is a relative vacuum zone to $1.53. If not, we'll have support from $1.37, and the lower $1.20's. It is worth noting that we have broken the lower bound of the corrective phase of the previous Elliott Wave, which implies an extension of this phase. The Kovach Momentum Indicators do not suggest that this is likely any time soon.
Check out my indicators!
I got an price alert from my crpyto app http://www.coinanceapp.com about IOTA. Love your idea about Iota. I am holding it since half a year now and it is still in my portfolio.
+1 Reply
quantguy FelixGerlach
@FelixGerlach, although its down now, it is still up markedly in comparison to 6 months ago
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out