BITFINEX:IOTUSD   IOTA / U.S. Dollar
IOTA joins the rest of the cryptocurrencies who insist upon ranging. This is a frustration to investors waiting for some semblance of a recovery. IOTA currently seems to be facing resistance 1.37, and may be giving up the $1.30 handle entirely. It seems to be settling on the range between $1.20 and $1.37. If we break out to the upside, we must punch through $1.435 and $1.44. Then there is a relative vacuum zone to $1.53. If not, $1.37 will provide support, and then 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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