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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.

IOT/USDThe cryptocurrency has retested the highs, according to our expectations. Now what?

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.

author: https://cointelegraph.com/tags/iota

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