$IOTX / USDT Showing Downward Pressure on Binance 📉
IoTeX ( $IOTX ) is currently trading at $0.01774 on Binance, down by 1.00% on the 4-hour chart and 5.24% overall.
The 4-hour chart indicates a bearish trend following a recent high of $0.01911 (the 24-hour high). The price has been making lower highs and is currently trading just above the 24-hour low of $0.01702.
The immediate support level to watch is the 24-hour low. A break below this could lead to further downside. On the upside, resistance is likely around the $0.0180 and $0.0185 levels. A sustained move above these could signal a potential short-term recovery.
Key Levels to Watch:
Potential Support: $0.01702
Potential Resistance: $0.0180, $0.0185, $0.0190
Traders should exercise caution and monitor volume for confirmation of any potential breakouts or breakdowns. The current trend suggests continued bearish pressure in the short term.
