As seen on the chart, IOTX has been following this channel for almost a month now. At the moment, IOTX is facing a small bearish correction to the lower support line of the channel. If the price were to bounce from the support line yet again, it could be a potentially amazing buy in area for short term investors to trade the channel.
To trade this, wait for the price to enter the yellow marked area and wait for a big bullish candle. This marks the start for a bullish trend reversal.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.