$IOTX has seen a price decline of -2.242% over the last 24 hours.
The intraday high of 0.02153 and low of 0.0205 suggests bearish momentum.
Currently, IOTX is trading near its lower Bollinger Band, indicating potential volatility ahead.
Support is established at 0.0205 and resistance at 0.02137.
The overall market trend is identified as a downtrend, which may intensify given macroeconomic uncertainties.
While Bitcoin's influence seems undefined, its historical correlation may still sway altcoin movements.
Traders should consider a short-term strategy, capitalizing on volatility rather than a long-term hold in a weakening market.
Key takeaway: IOTX's proximity to its support level indicates a critical moment; traders must remain vigilant for sharp price swings.
