IOTA still appears to be in the doldrums, though it is gradually drifting upwards in a purely technical move. It will likely face resistance at $4.38, a Fibonacci Extension
level, but has support from below at $3.88, the central moving average of the KRI. This seems to be very unimpressive for Wave 3 of the impulse segment of the Elliott Wave
, as this is supposed to be the longest and strongest. Other than the stated levels from above, there is a relative vacuum zone before the upper bound of the Kovach Reversals Indicator at $4.90, so there is still hope.
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