Let's analyze the technical indicators of the IO/USDT trading pair on the chart on the 1-day (1D) time frame:

1. General Outlook

Price: 1,411 USDT

24-hour change: 1.88% up

24-hour high: 1,441 USDT

24-hour low: 1,369 USDT

The price is following a sideways movement, recovering from the recent low of 1,207 USDT.

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2. Technical Indicators

Bollinger Bands (BB)

Upper Band: 1,526 USDT

Middle Band (20-Day Average): 1,407 USDT

Lower Band: 1,289 USDT

The price is currently trading just above the middle band, but the Bollinger bands are tightening, suggesting that volatility may increase soon.

MACD (Moving Average Convergence Divergence)

MACD Line: -0.257

Signal Line: -0.318

Histogram: 0.061 (weak positive signal)

The MACD indicator has started to give a weak bullish signal, but for a strong buy signal, the MACD line needs to break above the signal line.

RSI (Relative Strength Index)

RSI Value: 47.79 (Neutral zone)

The RSI is currently neither overbought nor oversold, but it could gain momentum if it breaks above 50.

Volume Analysis

The trading volume has been low in recent days, but it increased during the previous sharp decline.

The trading volume needs to increase for a rally.

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3. Future Forecast

Short-Term Scenarios (1-7 Days):

1. Bullish Scenario:

With the break of the 1.45 USDT resistance, the price may rise to the 1.52-1.60 USDT range.

MACD and RSI need to gain strength.

An increase in volume is a must.

2. Bearish Scenario:

The 1.37-1.35 USDT support level can be tested.

If 1.35 is broken, there is a possibility of a decline to the 1.28-1.20 levels.

Medium-Term Expectation (2-4 Weeks):

Bollinger Bands are tightening, which is usually a sign of a big move.

A breakout with volume is a must for an increase.

Support and resistance levels should be followed carefully.

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4. Conclusion and Recommendations

The price is currently in a sideways trend, there is no strong directional sign.

Volume and MACD should be followed carefully.#BybitSecurityBreach $IO