$IO Analysis:
1. First Downward Channel:
Formation: After the initial spike and decline, the price entered a downward channel.
Upper and Lower Bounds: The upper bound of this channel acted as a resistance, and the lower bound served as support.
Breakout: Eventually, the price broke out of this channel, leading to another decline.
2. Second Downward Channel:
Continuation: Following the breakout, the price entered a second, narrower downward channel.
Consolidation: Within this channel, the price appears to be consolidating, moving within tighter bounds.
3. Volume Analysis:
Volume Fluctuations: The volume shows significant fluctuations, indicating periods of high trading activity corresponding with price spikes and declines.
Current Volume: With a 24h volume of 31.28M for $IO and 127.73M for USDT, the trading activity remains high, which can contribute to volatility.
