Market Overview: io.net (IOUSDT) 24-Hour Technical Summary

• Price of io.net (IOUSDT) declined by -5.3% over 24 hours, closing at 0.585.
• A bearish divergence emerged in RSI and volume, suggesting weakening momentum.
• Key support at 0.58 was tested twice and held, but no clear bullish reversal formed.
• Volatility expanded in the early hours before consolidating near the 20-period moving average.
• A bearish engulfing pattern formed near 0.594, signaling potential further downside risk.

io.net (IOUSDT) opened at 0.59 on 2025-08-03 12:00 ET, reached a high of 0.601, a low of 0.578, and closed at 0.585 on 2025-08-04 12:00 ET. Total volume traded was 14,948,329.89 with notional turnover of 8,515,553.21 USD over 24 hours.

Structure & Formations

Price action revealed a bearish bias as the asset broke below key support at 0.59 and tested 0.58. A bearish engulfing pattern formed near 0.594, suggesting a continuation of downward pressure. A doji candle appeared near 0.591, indicating indecision. Resistance levels now sit at 0.592–0.594, while support is likely to be tested at 0.58–0.582 in the near term.

Moving Averages

On the 15-minute chart, price closed below the 20-period moving average (0.587) and the 50-period (0.589), reinforcing the bearish trend. Daily moving averages (50/100/200) are not fully available in this dataset but would provide context for broader positioning.

MACD & RSI

The RSI declined to 38, indicating neutral to slightly oversold conditions, but failed to form a bullish divergence. MACD turned negative and crossed below the signal line, confirming bearish momentum. This suggests selling pressure could continue unless a strong bullish reversal forms.

Bollinger Bands

Price spent much of the 24-hour period near the lower band of the Bollinger Bands, indicating low volatility and bearish bias. A brief expansion occurred during the early morning hours, followed by consolidation. This suggests a potential reversal may be due if price breaks above the midline.

Volume & Turnover

Volume surged during the bearish breakdown near 0.58, with a high of 271,999.66 at 0.593. Notional turnover also spiked, confirming the move lower. However, volume has since declined, suggesting exhaustion in the downward move. A divergence between price and volume could hint at a potential reversal, but confirmation is needed.

Fibonacci Retracements

Fibonacci levels applied to the recent 15-minute swing from 0.578 to 0.601 show 0.586 (38.2%) as a potential support level. The 0.58 level aligns with the 61.8% retracement and has held twice, suggesting a possible bounce zone.

The next 24 hours could see io.net test 0.58–0.582 for support. A break below 0.58 would likely target 0.575–0.578, but a rebound above 0.586 could signal a short-term reversal. Investors should remain cautious of further downside volatility, especially if momentum indicators remain bearish.