Wedge Consolidating @ 3.80, possible IOTA break out to 5USD
Bearish wedge in IOTA is being supported by strong buying pressure at 3.80. I predict a potential breakout to 5 dollars if the bearish trend continues to respect this bound but beware as the trend continues to be bearish and may continue to test lower and lower ranges.
Iota has seen massive volatility as should be expected after its spectacular rise from 1.45 to 4 and then an ATF of 5.59. Its market-cap quickly ascended from the top 20 to 5th and yesterday overcoming Ripple for 4th larges market-caped cryptocurrency as of today 12/07. BTC volume might also be diverting large investors from IOTA as the recent 40% correction on BTC has quickly almost back to 18k but IOTA remains a hot commodity and its meteoric rise is not likely to be ignored for long so I would pay attention to any news relating to new partnerships with corporations or use cases of iota.
Iota has seen massive volatility as should be expected after its spectacular rise from 1.45 to 4 and then an ATF of 5.59. Its market-cap quickly ascended from the top 20 to 5th and yesterday overcoming Ripple for 4th larges market-caped cryptocurrency as of today 12/07. BTC volume might also be diverting large investors from IOTA as the recent 40% correction on BTC has quickly almost back to 18k but IOTA remains a hot commodity and its meteoric rise is not likely to be ignored for long so I would pay attention to any news relating to new partnerships with corporations or use cases of iota.
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