![unnamed.png](https://steemitimages.com/DQme4YU7UC3wiNRdg4LRoMFLxszqaFzyu4Vewhu6pSWHujT/unnamed.png)There is also a bullish descending wedge breakout that has occurred in IOTA, as of five days ago. This wedge is not quite as clear and distinct as the wedge in Ripple as it’s contained within a larger declining trend, but it is there nonetheless. 

The IOTA/USD pair found a bottom at $1.20 two weeks ago and has risen over 84% as of Saturday’s $2.212 high.

 ![11bd010cdf7bd9de13b1d45e052e14e3.png](https://steemitimages.com/DQmect35sksrhnBiheagZPFeKF7XnRAr54mHmBMhLgtySWh/11bd010cdf7bd9de13b1d45e052e14e3.png)It next has to contend with potential resistance around its downtrend line, which falls from the December record high of $5.80. At the low two weeks ago the coin had fallen as much as 79% off the high.

Given the degree of the recent retracement, along with the reaction off the low, it looks like a low has been determined for IOTA. Further, the 14-day RSI is rising after touching the oversold border.