Ethereum News Today: IOTA Surges 22% in Week, Ethereum Leads Crypto Bull Run

The cryptocurrency market is experiencing a strong bullish trend, with Ethereum (ETH) leading the charge, having gained 22% over the past week and now trading above $3,600. This positive momentum is extending to major altcoins, with IOTA (IOTA) showing promising signs of further upside potential.

IOTA has seen a 22% increase over the past week, adding to its 30-day gains of 43%. Beyond the price appreciation, a harmonic pattern on the daily chart is indicating the possibility of another significant upward move.

On the daily timeframe, IOTA is forming a classic Bearish Gartley harmonic pattern, which is often interpreted as a signal for a continuation rally before eventually reaching a reversal zone. This specific pattern began at point X near $0.4250, dropped to point A, rallied to point B, and then retreated to point C around the $0.1393 level. Since that low, IOTA has sharply reversed and is now trading near $0.2343, maintaining a bullish trajectory and sitting comfortably above key short-term levels.

If this harmonic structure continues to develop, the Potential Reversal Zone (PRZ) lies between $0.3639 and $0.4250. These levels align with the 0.786 and 1.0 Fibonacci extensions, which are typical completion targets for this setup. From current levels, a rally into this zone represents up to 81% upside.

However, for this bullish outlook to remain valid, IOTA must hold above the 200-day moving average (MA), currently near $0.2163. A brief retest of this support is possible, but maintaining that level would keep the bullish scenario intact.

With the broader market momentum favoring an upward trend and IOTA’s harmonic pattern pointing toward a clear upside zone, the altcoin could be poised for its next significant breakout.