It has demolished levels of support to press the lower bound of the KRI with a vengeance. IOTA has long given up its range between $1.84 and $1.92, plummeting to the $1.20's. IOTA is currently sitting at $1.23, just above strong support at $1.21 and $1.20. 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. If sentiment turns bullish , we must punch through a vacuum zone to $1.37, $1.44, and $1.45. But it will take a great deal of momentum for such a drive. The Kovach Momentum Indicators do not suggest that this is likely any time soon.

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