The chart shows the estimated movement of the IO/USDT price. Considering the current downtrend, a scenario is drawn where the price could test the 1.20 support level, then recover and head towards the 1.47 and 1.60 resistance levels.
If 1.20 is broken, the decline could deepen. However, the RSI is in the oversold territory, so a reaction buy is likely in the short term. Volume growth and a positive MACD turn will be critical for the rise to continue.