Iota coinchart

Look at the trendline drawn in red color, at the very first beginning of this month, about may 4th, Iota price has a bullish candlestick, and the next close come is a bearish candlestick.

Iota has been sliding steadily ever since it broke below 100-DMA, currently at $1.38. Now Iota’s market capitalization is $3.8B, registered trading value is $50M.

The ultimate trend breaking resistance comes at $2.0 and $2.2(that’s the “Holy trinity” of 23.6% Fibo retracement, intersection with long-term downside trendline and 200-DMA). If the coin managers to break through this strong resistance area, the upside momentum will catapult it toward $2.7790(38.2% Fibo).

On the downside, a sustainable move below $1.4 will open the way to $1.3 and, potentially, $1.0, which means Iota price will likely continually go down to $1.0.

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