$IO Gains 2.58%: Testing Resistance at $2.391! 📈

IO is trading at $2.347, up 2.58%, as it continues its recovery from recent lows. Here’s a technical breakdown:

1. Moving Averages (MA)

• The 7-hour MA (yellow line) at $2.338 is providing immediate support, showing bullish momentum.

• The 25-hour MA (pink line) at $2.264 and the 99-hour MA (purple line) at $2.331 are holding as solid support levels.

2. Volume Insights

• Volume spiked during the rally from the 24-hour low of $2.106, reflecting strong buyer interest. However, current volume is tapering as the price nears resistance.

3. Key Levels to Watch

• Resistance: The 24-hour high of $2.391 is the immediate hurdle. A break above this could push IO towards the $2.40 zone.

• Support: Immediate support lies at $2.338 (7-hour MA). A break below this level may test the 25-hour MA at $2.264.

4. Trend Analysis:

• IO is holding above key MAs, suggesting a bullish bias. Breaking above the $2.391 resistance is critical for the uptrend to continue.

Trading Strategy:

• For Bulls: Look for a breakout above $2.391 with strong volume to confirm further upside. Use $2.338 as a trailing stop.

• For Bears: Consider short positions if IO fails to break $2.391, targeting support at $2.331 or lower.

IO is approaching a key decision point—watch for the breakout or rejection! 📊🔥

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