The bulls could manage to hold the $1.33 levels only for a day on June 11, post which, IOTAcontinued its journey southwards. It easily broke the support and is now on target to sink to the major support at $0.9150.
We expect a strong buying close to the bottom of the probable range. If we find the buying sustain for a couple of days near the lows, it might offer the traders a low-risk entry opportunity.
However, we suggest waiting until the IOTA/USD pair stops falling because if the bears break below $0.9150, the fall can extend to $0.666 levels.
On the upside, any recovery attempt will face resistance at the $1.33 levels.