🔎 Technical analysis IOUSDT (1D) - Binance 🔎
📉 Current trend :
The price of IOUSDT is moving in a descending channel on the daily chart, indicating persistent selling pressure.
Currently around 0.878 USDT, it is approaching a key support zone around 0.80 - 0.85 USDT.
📊 Technical indicators :
Moving averages :
MA 7 : 0.806 (short term, immediate resistance)
MA 25 : 1.100 (medium term, important resistance)
MA 99 : 2.383 (long term, target in case of bullish return)
RSI (14) : 35.04 → In oversold territory, signaling a possible rebound.
Volume : 8.799M → An increase in volume could indicate a recovery or continuation of the trend.
🎯 Key zones to watch :
📌 Supports :
0.80 - 0.85 USDT : Critical zone, a rebound here could provide a buying opportunity.
1.151 USDT : Former zone tested multiple times.
📌 Resistances :
1.100 - 1.229 USDT : Immediate resistance zone in case of a bullish recovery.
1.950 USDT : First swing target, in line with take profit levels.
2.50 - 3.00 - 3.96 USDT : Medium/long term targets in case of trend reversal.
📈 Possible scenarios :
✅ Bullish scenario :
If IOUSDT breaks 1.100 USDT, it could open the door to 1.229 - 1.950 USDT. A bullish breakout from the channel would give a strong signal.
❌ Bearish scenario :
If IOUSDT breaks 0.80 USDT, we could see a continuation of the decline with a risk of going towards 0.70 - 0.60 USDT.
🔥 Conclusion :
Currently in a bearish trend but in oversold territory, IOUSDT could rebound in the short term. A bullish confirmation is needed with a close above 1.100 USDT to hope for a real recovery. 🚀