It continues to hold above the $0.97 support that I indicated in the chart. As long as it holds above this support, its first target will be the cup-handle formation resistance of $1.46.
With the completion of the formation, that is, when it breaks the formation resistance upwards, it will start its real rise and target the upper levels that I indicated in the chart in the medium and long term.
1. $3.11: This is the recent low and a critical support level. If the price drops below this level, it could indicate a bearish trend and potential further declines.
2. $2.90: This level has been previously noted as a low point. It could serve as a secondary support level if the price falls below $3.11.
Resistance Levels:
1. $3.75: This is a key resistance level. If the price can break above this level, it may indicate strong bullish momentum and could lead to further gains.
2. $4.00: A psychological resistance level that traders often watch. A breakthrough here could signal a strong upward trend.
3. $4.50: This level might act as a further resistance point if the price continues to rise after breaking through $4.00.
we could see these scenario $IO
Bullish Scenario: If IO maintains above $3.11 and breaks through resistance at $3.75, it could target $4.00 and potentially $4.50.
Bearish Scenario: If it falls below $3.11, watch for support at $2.90. A drop below this could indicate a correction.
$IO Based on the current data, the price of IO.net (IO) is approximately $3.43, with a recent 24-hour trading volume of $502 million, reflecting an 8.4% increase within that period. Given the positive trading momentum and the overall market sentiment, it is reasonable to predict that the price could continue to rise, potentially reaching around $3.70 to $3.80 in the short term if the upward trend persists. The rationale behind this prediction includes:
1. Recent Price Increase: The significant price increase of 8.4% indicates strong buyer interest.
2. High Trading Volume: A trading volume exceeding $500 million suggests robust market activity and liquidity, which often supports price stability and growth.
3. Market Sentiment: The community sentiment is bullish, with 92% of respondents expressing positive views about IO.net.
However, market conditions can change rapidly, so it's essential to monitor any developments that could impact price movements.