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Following a strong upward move, $IO encountered a decisive rejection at $0.616, forming a series of lower highs. The price action is currently exhibiting bearish characteristics, with $0.601 acting as a fragile support level. A confirmed breakdown below $0.598 may catalyze further downside momentum.
Trade Parameters – Short Position:
Entry Range: $0.600 – $0.605
Take-Profit Targets:
Target 1: $0.595
Target 2: $0.580
Stop Loss: $0.617
Analyst’s Note:
Traders are advised to await a clear 15m or 30m candle close below $0.598 for confirmation of breakdown. Volume divergence suggests waning buying pressure, increasing the probability of a short-term decline.
Outlook: Bearish momentum building — potential for a corrective move downward.
Just spotted a potential breakout pattern on $TOKEN – RSI is climbing, volume's building, and whales seem to be quietly accumulating. Something’s brewing! I'm watching closely for confirmation.
DYOR, but this could be one of those stealth setups before a major move.
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