Iota has been absolutely slaughtered since the beginning of the bear market. That comes to no surprise as every altcoin has been under the same pressure.
Despite the insane amount of progress that has been made, iota went to bottom out at 0.22 before flattening out for a bit. This bottom side action developed into an ascending triangle resisted to the upside at 0.38 by the thicker white line. Followed by what looks like a strong break out followed by the classic breakout volume. As a result we can see a powerful overshoot int the oversold reagion where it came back to consolidate and retested the previous resistance now turned support.
Making higher highs and higher low now with good volume. Seeking for more short term highs as we wait and see where BTC will top out.
Despite the insane amount of progress that has been made, iota went to bottom out at 0.22 before flattening out for a bit. This bottom side action developed into an ascending triangle resisted to the upside at 0.38 by the thicker white line. Followed by what looks like a strong break out followed by the classic breakout volume. As a result we can see a powerful overshoot int the oversold reagion where it came back to consolidate and retested the previous resistance now turned support.
Making higher highs and higher low now with good volume. Seeking for more short term highs as we wait and see where BTC will top out.