{"id":540045,"date":"2024-06-25T13:16:31","date_gmt":"2024-06-25T13:16:31","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=540045"},"modified":"2024-06-25T13:16:31","modified_gmt":"2024-06-25T13:16:31","slug":"io-net-price-prediction-io-plunges-15-in-a-week-to-a-new-all-time-low-as-investors-pivot-to-this-ai-meme-coin-with-10x-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/io-net-price-prediction-io-plunges-15-in-a-week-to-a-new-all-time-low-as-investors-pivot-to-this-ai-meme-coin-with-10x-potential","title":{"rendered":"io.net Price Prediction: IO Plunges 15% In A Week To A New All-Time Low As Investors Pivot To This AI Meme Coin With 10X Potential"},"content":{"rendered":"
The io.net price <\/span>climbed<\/span><\/a> over 1% in the past 24 hours but is still down more than 15% on the weekly timeframe to trade at $3.30 as of 6:55 a.m. EST as investors dump the altcoin.<\/span><\/p>\n This minor gain throughout the past 24 hours comes shortly after the IO price established a new all-time low at $3.14. After dropping to this point, the crypto has since risen more than 5%.<\/span><\/p>\n 4-hour chart for IO\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n The io.net price rebounded off of the key $3.1770 support over the last 24 hours. As such, <\/span>IO<\/span><\/a> is now attempting to overcome a medium-term negative trend line that has emerged on its charts. Should it breach this threshold within the next 8 hours, it could begin to climb to the $3.9642 resistance level.<\/span><\/p>\n If bulls then decide to continue exerting pressure on the io.net price, the crypto might have the backing needed to flip $3.9642 into support. Thereafter, the crypto could keep climbing in the following 24 hours. A break above $3.9642 will clear a path for IO to potentially rise to as high as $4.7515 in the short term.<\/span><\/p>\n However, the io.net price failing to close a 4-hour candle above the aforementioned descending trend line might invalidate the bullish thesis. In this alternative scenario, the altcoin could retest the immediate support level at $0.31770. Bears might then pull the crypto’s price below this point, which could lead to IO establishing a new all-time low.<\/span><\/p>\n Technical indicators on IO’s 4-hour chart suggest the io.net price could continue climbing in the next few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators point to increasing buyer strength.<\/span><\/p>\n This is after the MACD line crossed above the MACD Signal line in the last 24 hours. Traders usually see this as a sign that a crypto has entered into a short-term bullish cycle. What’s more, the gap between the two lines is starting to grow, which could indicate that IO’s bullish momentum is growing stronger as well.<\/span><\/p>\n Meanwhile, the RSI is well below the 50 mark. RSI values below 50 tend to signal that a crypto is oversold. With the technical indicator starting to level off, bulls might start to enter into a long position for <\/span>IO<\/span><\/a>. The chances of this happening are increased given the fact that the current RSI reading suggests IO’s upside potential is far greater than its downside potential.<\/span><\/p>\nThe io.net Price Trying To Break Above A Negative Trend Line<\/span><\/h2>\n
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The io.net Price Could Keep Climbing As Bullish Technical Signs Emerge<\/span><\/h2>\n