IOTA... Sigh

It has demolished levels of support to press the lower bound of the KRI with a vengeance. IOTA has long given up its range between $1.84 and $1.92, plummeting to the $1.20's. IOTA is currently sitting at $1.23, just above strong support at $1.21 and $1.20. It is worth noting that we have broken the lower bound of the corrective phase of the previous Elliott Wave, which implies an extension of this phase. If sentiment turns bullish, we must punch through a vacuum zone to $1.37, $1.44, and $1.45. But it will take a great deal of momentum for such a drive. The Kovach Momentum Indicators do not suggest that this is likely any time soon.

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