We are oversold on the daily and get have tested the support level several times. You can take a trade here with a stop at the low at $1.03 or a little under to not get stopped out on a retest of the support level. The market has really pulled iota back and if btc and overall marketcap continues to fall i believe iota will keep falling. But there is amazing upside, you have a obvious stop level which would lead to a very small loss if you do get stopped out and obv held on the daily during this entire pullback which tells you iota itself didnt really sell off the market just killed the usd value overall. On the daily this level was the level it turned around last time. Not much more to say here.