IOTA has been in a downward trend channel of correction for several weeks. Recently, the price drops on 78.6 Fibonacci Retracemnet has not been stopped so far, so I currently strongly assume that the price could drop below $1.00 again and retest the lows.
At upper side I see upward-potential very limited at the moment, cause many massive resistances are to overcome.
Should the recently formed low keep at 1.11 $, I see maximum prices for the counter movement in the range of 1.40 $ / 1.42 for IOTA/USD.
The situation at IOTA only eases after a sustained break on a daily basis on the upper trend channel line, and the long-term upward trend can then be expected to resume.
This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!
Cheers Jessy
