The IOTA Coin has been moving down against Ethereum since August, although it found the support at ETH 0.0014, it was broken on 13th of this month.
The trend remains bearish and there is much more downside potential. The pair is trading below the 200 Moving average and could now be rejecting the previous support at 327.2% Fibonacci.
The selling opportunity is there and break below the most recent low at ETH 0.0013 should trigger a selloff, down 60% or more. The first downside target is ETH 0.00096, and second ETH 0.0005. Break below 0.0005 will push it even further down.