I/O Coin has approached a massive support at $0.7 that has been formed back in July 2017. First this price was acting as resistance level, that during the period of March - May 2017 it struggled to break above. But then after the breakout if found the support at that price and produced a n all-time high, hitting $8.2.
Once again IOC/USD is trading at this key price which could once again trigger the trend reversal sending price to the new all-time high. As the upside target, the $10 could be a reasonable price. Not only its a strong psychological resistance but also a technical resistance confirmed by two Fibonacci retracement levels.
But can it go any lower prior to the potential reversal? Yes, it can go lower and/or could still consolidate for another month. The very attractive price would be around $0.5 and the probability that it might go that low remains. Nevertheless it seems that the buying opportunity is already presented and investors could start picking up I/O Coin near $1.
Once again IOC/USD is trading at this key price which could once again trigger the trend reversal sending price to the new all-time high. As the upside target, the $10 could be a reasonable price. Not only its a strong psychological resistance but also a technical resistance confirmed by two Fibonacci retracement levels.
But can it go any lower prior to the potential reversal? Yes, it can go lower and/or could still consolidate for another month. The very attractive price would be around $0.5 and the probability that it might go that low remains. Nevertheless it seems that the buying opportunity is already presented and investors could start picking up I/O Coin near $1.