IOTA Retracing

IOTA has retraced back to the psychologically and technically significant $2 mark as it has pulled back from relative highs at $2.17 or so. Like other coins, IOTA has had a respective burst of momentum so some retracement should be anticipated, and is normal. In the longer term, we still have somewhat of a bull wedge pattern, so some renewal of momentum can be expected. We are perhaps finally entering the next impulse wave, a welcome sign as the corrective phase has lasted since December. Although we definitely have seen support from $2, we must conquer relative highs at $2.17, before we cross a relative vacuum zone until $2.25. However, if we break down further, we'll have support from $1.95, $1.84, $1.78, and finally from $1.68, the lower bound of a congestion zone.


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