$IR is currently navigating a corrective phase, reflecting broader bearish pressure across the market. The price is trading below critical moving averages, including the 7-day, 30-day, 50-day, and 200-day, indicating sustained weakness. A decisive break below the main pivot point has intensified selling pressure, with key Fibonacci retracement levels now lost, further confirming the downtrend. Momentum indicators reinforce this outlook: RSI remains in oversold territory, signaling short-term relief potential, while the MACD continues to favor bearish control.
In the last 24 hours, $IR has experienced increased volatility, accompanied by rising net outflows and below-average volume on minor upward moves, suggesting that buyers are not yet dominant. Key support zones are identified at $0.087 and the $0.084–$0.086 range, with downside risk extending toward $0.079–$0.08. On the upside, resistance levels near $0.095–$0.100 and $0.107–$0.11 must be reclaimed to signal a trend reversal.
While oversold conditions may trigger temporary relief bounces, the broader trend remains weak until volume-backed reclaim of major resistance levels occurs. Traders should monitor volume closely for confirmation of any reversal. DYOR before entering positions, and manage risk accordingly.
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