$IO has experienced a significant decline of approximately 7% in the last 24 hours.
The price has fluctuated between 0.765 and 0.846, indicating increasing volatility.
Bollinger Bands suggest a potential squeeze, with the current price near the lower band, signaling oversold conditions.
Support is firmly at 0.765, while resistance at 0.846 remains unbroken.
The overall market is in a downtrend, influenced by uncertain macroeconomic factors and regulatory concerns.
Bitcoin's correlation appears weak, suggesting IO's movements may be more independent.
Traders should consider a short-term approach due to current volatility and bearish sentiment.
A key takeaway: monitor macroeconomic trends closely, as they could dictate further price action.
