🔥 IOTX: "Oxygen Breath" at the death threshold 0.005 – The boundary of life and death
When IoTeX (IOTX) reaches the price of 0.005, it truly looks into the "abyss". This is an extremely low value point (half a cent), and is the final psychological barrier for the Buying side.
If it breaks 0.005, IOTX will officially enter the "Infinite" phase (Price Discovery downward), meaning there will be no support below to cling to.
Market Context
Main trend: DECREASE (Downtrend) with no bottom in sight. The D1/W1 chart looks like a waterfall.
Position 0.005: This is the "sacred" psychological support level. Usually, there will be a reactionary twitch (slight bounce) here due to the Short side taking profits and the bottom catchers (Gamblers) jumping in.
Liquidity: Extremely thin (Low Liquidity). With such low-value coins, just a sneeze from BTC will vaporize 10-20% of its value in an instant.
Price Action & SMC
Last Line of Defense: 0.005 is the last stronghold. If the daily candle closes below this level, market sentiment will shift from "Fear" to "Giving Up" -> Strong Panic Sell towards the beginning of 0.004x or lower.
Volume: Selling volume is overwhelming buying volume. The green recovery candles (if any) have very low volume, indicating no Sharks (Smart Money) supporting the price.
Trading Plan
SELL scenario (SHORT): Look for a slight bounce (Dead Cat Bounce) to Short, which is the safest. Or wait for it to break clearly below 0.0049 and then bounce up to test for Short (Break & Retest).
TRADING SETUP (SHORT LIMIT)
Strategy: Sell on Rally.
Entry (Selling Zone): 0.0052 - 0.0054 (Minor resistance/EMA H1).
TP1: 0.0042 (New bottom).
TP2: 0.0035 (Drifting area).
SL: 0.0058 (Absolutely above the nearest Swing High).
R:R: 1:3.0

$IOTX

{future}(IOTXUSDT)
$BTC

{future}(BTCUSDT)