IOTA has disappointed investors waiting for some semblance of a recovery. It is currently solidly down trending, haven given up the $1.30 handle entirely. If we can manage to break $1.37, we’ll face resistance at $1.435 and $1.44, which seems light years away. At $1.20, we’ll find support, then there is a vacuum zone to $1.02, which seems to correspond with the $1 psychological mark. 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 are very bearish
as one could expect. We have been pressing the lower bound of the KRI
for some time now.
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