CoinTelegraph had pointed out about the range tightening from Dec. 14 to Dec. 17. They expected a sharp move thereafter, once IOTA broke out of the downtrend line.
Currently, the highs are offering a stiff resistance. CoinTelegraph had pointed out that, we can expect a consolidation near the highs for the next couple of days.
If the next attempt to break out to new high succeeds, a rally to $8 levels is expected.
On the other hand, if the price fails to break out, IOTA will become range bound between $3 and $5.5.