$IO Price Action Update
Analysis: $IO is experiencing strong upward momentum, currently trading at $3.304 with a 15% increase in the last 24 hours. It reached a high of $3.359 before slight consolidation, showing potential for further movement.
Key Levels:
Resistance: $3.359 (recent high), $3.400 (psychological level)
Support: $3.250 and $3.200 (key retracement zones)
Prediction:
Bullish Scenario: A breakout above $3.359 could push the price toward $3.450-$3.500 levels.
Bearish Scenario: A drop below $3.250 may test support at $3.200, with further downside to $3.150 if selling pressure increases.
Next Steps:
Watch for strong volume spikes to confirm direction.
Short-term traders may consider profit booking near $3.350-$3.400.