[Yingbei Trend Quantification 618’s strategy on io]

1. K-line pattern:

- The K-line has shown significant fluctuations recently. The previous week (June 10, 2024) there was a positive line with long upper shadow line and lower shadow line, indicating that the competition between the long and short sides is fierce.

- The K-line of the latest week (June 17, 2024) is a negative line with a long lower shadow. The closing price is significantly lower than the opening price, showing strong selling pressure.

2. Technical indicators:

- MACD: 4-hour MACD dead cross on June 17, short positions increase

- RSI: Entering the overbought zone and starting a pullback.

- EMA: The short-term moving average (such as EMA7) may quickly cross the medium and long-term moving average (such as EMA30, EMA120) downwards, forming a dead cross signal.

3. Trading volume:

- The trading volume in the previous week was extremely large (1726886365), which shows that the market activity is very high and the long-short game is intense.

- Trading volume decreased significantly in the latest week (261271899), but still remained at a relatively high level, indicating that market sentiment has cooled.

[Trend Determination] io is bearish in the short term, pay attention to the intraday support of 3.5, the intraday pressure of 4.2, the next target for upward breakthrough is 4.6-4.9, and the downward break is for 3-2.3. Pay attention to the mining cost as a bottom reference.

[Analysis of pressure support level]

- The first support level: around 3.5 (reason: close to the previous low, close to the lower edge of the wedge triangle)

-The second entry position is in the range of 3.05-2.9

-The third entry position is the key support 2 in the range of 2.5-2.3. If it breaks 2, it will look at 1.6 (Fibonacci golden section 23.6% support)

- Upper target: 3.9-4.5-5-5.4-6. Note that 5.1 is the trend channel pressure level and will be stepped back.

- The second target area: if you stand firm at 5, you can enter the next upward trend, see 6-6.5, and in the long term, see 8-10#io.net #io项目 #depin $IO