IOTA - Still weak but probably in a basing pattern

IOTA has been going through a steep correction over the last two and a half months. A clear downtrend channel has emerged.

Yet my buying zone between 0.35 - 0.50 USD has been holding so far and I assume that we are in a basing pattern here.

The positive divergence in the stochastic points to a bullish breakout and higher prices.