In the last four hours, IQ/USDT has shown notable bullish movement, reflecting increased buying interest. Currently, the pair is nearing a significant resistance level at $0.007465, marked by the 200-period Simple Moving Average (SMA). The price has recently bounced off a key support zone between $0.0045 and $0.0050, which indicates that there is strong buying interest at these levels. The momentum is leaning towards a potential breakout above this resistance, which could shift the trend from bearish to bullish.
However, traders should monitor this resistance carefully. If IQ/USDT can sustain above the SMA, we could witness further upward movement in the short term. In addition, the relative strength index (RSI) is showing some overbought signs, so caution is advised if a short-term pullback occurs.
Overall, IQ/USDT is positioning itself for a potential breakout, but staying above the critical resistance level remains a key factor. Traders should be ready to act if the price crosses above the SMA and holds steady.