Hey Binance Square fam! IOST has been testing resistance and showing signs of exhaustion. Let’s unpack the structure, key levels, and a tactical short trade plan. 📉
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📉 Market Snapshot
Price & Momentum: IOST is trading near $0.00382 after a brief surge above MA(99) to ~$0.0043—but quickly retraced, leaving a bearish wick on the 4‑hour chart .
Technical Sentiment: On daily and weekly timeframes, most moving averages and oscillators show strong sell signals—dominantly bearish across the board .
Fundamentals: Though IOST recently raised $21 M and saw a short-term 12% spike, the move faded fast—showing seller dominance at higher levels .
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📌 Why We’re Eyeing Shorts
1. Fakeout Alert: The wick above MA(99)/$0.0043 suggests a failed breakout and profit‑taking .
2. Overall Bear Bias: Majority of technical indicators on daily and weekly charts favor sellers .
3. Reversal Confirmation: Price rejected key MA cluster—potential reversal zone formed at $0.0038–$0.0043 .
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🛠️ Short Trade Plan
🧭 Element 📍 Details
Entry Short near $0.00380–$0.00390, ideally after a bounce into MA resistance
Stop Loss Above $0.00430 (above the wick high)
Target 1 $0.00360 (near recent swing lows)
Target 2 $0.00345–$0.00350 (monthly support & lower band of range)
Aggressive Hold Down to $0.00316 pivot/lower Bollinger band
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⚠️ Watch & Manage
Volume Check: A bounce with no volume = great short opportunity. If volume surges, cut risk.
Macro Triggers: Broader crypto dip or negative sentiment could accelerate drop.
Support Levels: Watch $0.00360 and $0.00345–50 for signs of holding—scale or exit accordingly.
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✅ Final Take
The IOST rally above ~$0.0043 fizzled hard, leaving bearish structure in its wake. With strong sell bias across timeframes, shorting near $0.0038–0.0039, targeting $0.0036 and $0.00345, provides a tactical, risk-managed play. Use stops above $0.0043 and monitor volume closely.
Let’s keep it collaborative—drop your entries, ask questions, or share how you’d scale this short trade. Onward and trade smart, Square fam! 💬
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*Disclaimer: Educational purposes only. This is not financial advice. Trade responsibly.*