$IO

Key Event: A significant long liquidation of $4.9326K occurred at a price of $3.09758, indicating strong selling pressure or a stop-loss hit by traders expecting upward movement.

This liquidation may result in two scenarios:

1. Price Rebound: Buyers might step in to defend this level, leading to a recovery.

2. Continued Downtrend: If selling pressure continues, the price may drop further, seeking lower support levels.

Trading Strategy for $IO

Buy Zone.

Look to accumulate between $2.90 - $3.10.

This range includes key support levels and provides a good entry point if the price rebounds.

Targets.

1. Short-Term Target: $3.50

2. Mid-Term Target: $3.80

3. Long-Term Target: $4.20

Stop-Loss.

Set a stop-loss at $2.80, ensuring minimal losses if the downtrend continues.

Next Steps and Analysis.

1. Monitor Volume: A surge in buying volume near the $3.10 level signals a possible reversal.

2. Market Sentiment: Keep an eye on broader market trends, especially Bitcoin’s movement, as it influences altcoins.

3. RSI and MACD Indicators: If RSI approaches oversold levels and MACD signals a crossover, the trend may shift bullish.

Pro Tips for Trading.

Use dollar-cost averaging to enter gradually in the buy zone.

Avoid emotional decisions; rely on data and charts.

Always use proper risk management to protect your capital.

This plan provides a balanced approach to benefit from potential reversals or minimize losses in case of further declines.

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