Watch out with $IQ /USDT, community! 🚨 It's at $0.003915 with a +3.03% today, a movement that calls for a deeper analysis!
In the 15-minute chart, IQ attempted a bullish rally up to $0.003959, but has had a small pullback. It remains above the MA(7) at $0.003908, which is a good sign that the bulls are defending that level. The volume has been fluctuating, but the recent increase in demand indicates that there could be more interest.
The money flow is a mix of signals. The last 5 days of large inflows show a net negative of -1.07M, but with a couple of significant green bars, including a recent +1.73M in the last 24 hours. The money inflows have generally been very volatile, with large drops and recoveries. This indicates a strong battle between buyers and sellers.
What stands out to me the most is the order distribution: sales far exceed purchases! We have 8.01M in sales versus 3.87M in purchases. Small and medium sell orders are very large. Moreover, large buy orders are practically nonexistent! This, along with the erratic money flow, could be a sign of manipulation. It's as if they are letting the price rise a bit to then sell in massive quantities. Be very careful here!
My advice for IQ/USDT is caution. Despite today's positive percentage, the underlying data suggests potential weakness and strong selling pressure. If it manages to consolidate above $0.0039, we could see a stronger move, but I wouldn't dare to say it's a sustained bullish rally. It could be a good selling zone for those already in, or a level to watch closely for those looking for an entry. Risk management is key, don't fall into the trap!
