IOTA Price Analysis: Bulls on the Loose as IOTA Foundation Announces New Collaboration with Nova to Fund Start-ups
Ark (ARK/BTC) led the way as it retested the range support before hitting both of our targets in one week. The market continues to trade at our range support while printing a double bottom pattern. With Bitcoin (XBT/USD) stuck in a range, this week might be the chance for many coins to fly.
They continue to defy expectations as they push Ethereum close to our range high of 0.0418 with significant volume. After it nearly touched our range midpoint of 0.00828 on February 12, 2019, the market showed signs of short-term bullish exhaustion. However, the market refuses to revisit the range low of 0.000073 as it flashes bullish signals.
With these signs, we won’t be surprised to see EOS flip 0.0000828 resistance into support this week. Should the market recover this support soon, we could expect Mainframe to rally to our range high of 0.000001. The high volume rally on February 16 tells us that the market is intent on flipping resistance of 0.00000115 into support.
