quantguy
Long

IOTA Finds Support

BITFINEX:IOTUSD   IOTA / U.S. Dollar
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.

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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.
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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
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